Home » Andalas Energy and Power (ADL) » Andalas Energy & Power #ADL – Board changes

Andalas Energy & Power #ADL – Board changes

Andalas Energy and Power plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), announces that Mr David Whitby will retire from his role as Chairman and Director of the Company and that Dr Robert Arnott, currently a Non-Executive Director, will step up to the role of Non-Executive Chairman.  The changes are with immediate effect.

Commenting, Dr Arnott, the Company’s new Chairman, said: “With renewed focus on upstream opportunities and with the addition of the Badger prospect, in the UK North Sea, to our portfolio, I was pleased to become non-executive chairman as we enter a new chapter of the Company under the leadership of Simon Gorringe.  I look forward to assisting the team as it executes its strategy to build a broader portfolio that can deliver in the short, medium and longer term, whilst in parallel seeking to realise value from its existing Indonesian IPP opportunity.

“On behalf of the board, I would like to extend our thanks to David for his service to the Company, he brought passion for Indonesia to Andalas and we wish him well in his future endeavours.”

David Whitby, outgoing Chairman, said “I am proud of what the team has achieved in Indonesia, whilst the Company has not done enough to show the market that the foundations built over the past few years will generate shareholder value, I am confident that I leave the Company full of opportunity.  I wish the team and shareholders all the best as Andalas executes its new focused strategy, which has the potential to make 2018 a significant and exciting year for all involved.”

For further information, please contact:

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
David Porter/Nick Tulloch Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
Tel: +44 20 7894 7000
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis/ Tejas Padalkar Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881

Leave a comment

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.