London-based Leni Oil and Gas announced Wednesday that founder and chairman David Lenigas will step down from his position and that two new non-executive directors have been appointed to its board.
Lenigas has served in his current role since the company’s founding in 2006.
Lenigas will be replaced by Stephen “Steve” Thomas Horton.
Horton has been appointed Leni’s non-executive chairman and has been a non-executive director of Leni since February 2011.
Horton, 60, has served as COO and director of UK-based exploration and oil company Granby Oil and Gas, a subsidiary of UK-based Bridge Energy.
Horton has more than 35 years of experience working in the energy industry, including 27 years with BP where he held several executive roles including worldwide Director of Drilling.
Lenigas said that he decided to retire because the company’s recent success make it an “ideal time to hand over the reigns.”
“The original objective of LGO was to create an oil production company with over 1,000 bopd and the company is now poised to significantly exceed these original expectations as new wells are drilled and come on to production from the Goudron Field in Trinidad,” Lenigas said.
Lenigas will continue to advise the board for a minimum period of twelve months through a consultancy agreement.
Leni also appointed two new non-executive directors to its board.
John “Iain” Alexander Patrick has been appointed to the board of the company as non-executive director. Patrick is the founder and CEO of UK-based Trinity Energy Limited and will chair Leni’s audit committee.
CEO and co-founder of The Quo Group, a business consultancy firm, Michael Stephen Douglas has also been appointed to the board of the company as non-executive director.
Both appointments are effective immediately.
Leni also announced that it will officially change its name to LGO within the next six months.