LogIn LogOut

Oil Search Says Boss Resigns for Health Reasons

July 19, 2021

Keiran Wulff - Credit: Oil Search
Keiran Wulff - Credit: Oil Search

Oil Search Managing Director Keiran Wulff has resigned 17 months after taking charge over a long-term medical condition that the Papua New Guinea-focused company said had recently deteriorated.

The board had been in discussions with Wulff over complaints about his behavior, Chairman Rick Lee said in a statement on Monday.

Lee said the board considered Wulff's behavior was "inconsistent with the standards expected by the Board in relation to his management style."

Since Wulff took over from his long-serving predecessor, there have been a slate of extreme events including lockdowns, a plunge in oil prices, emergency measures to secure the company's financial position, and the need for a sustainable strategy focused on energy transition, he said.

"The Board acknowledges the magnitude of the tasks undertaken by Dr Wulff since his appointment as Managing Director in February 2020 and recognizes the challenges that his recent health issues have had on him," Lee added.

Peter Fredricson, who was appointed chief financial officer in March, will become acting chief executive officer while the search for a permanent replacement goes on.

It has "become apparent to me that due to my health challenges, it is becoming increasingly difficult for me to perform at the level required of the position," Wulff said.

"After considerable reflection and consultation with my family and others including my medical advisers, it is an appropriate time to leave to focus on my health," he added.

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Subhranshu Sahu)



Current News

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

PHOTO: Offshore Wind Blade for MingYang's 11MW Turbine Rolls of Production Line

Petrofac Brings Online East Cendor Offshore Field in Malaysia

Petrofac Brings Online East Cendor Offshore Field in Malaysia

Pharos Wraps Seismic Survey Off Vietnam. Eyes Drilling Partner

Pharos Wraps Seismic Survey Off Vietnam. Eyes Drilling Partner

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Singapore LNG Wants to Extract Chemicals from LNG

Singapore LNG Wants to Extract Chemicals from LNG

Siem Offshore's Anchor Handler Secures Charter Extension in Australia

Siem Offshore's Anchor Handler Secures Charter Extension in Australia

Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com