UK's Serica Energy names Chris Cox as new chief executive
Adds details, background
May 14 (Reuters) -British oil and gas producer Serica Energy SQZ.L named Christopher Cox as its new chief executive on Tuesday, completing a new lineup of its top management team.
Cox, who has over 40 years of industry experience and is currently a non-executive director of Nostrum Oil & Gas NOGN.L, will take the helm on July 1, replacing Mitch Flegg who left last month after six years in the top role.
Shares in the company were up 0.4% after the announcement.
The company said Cox, 63, previously held top roles in Spirit Energy, Capricorn Energy CNE.L and Kellas Midstream.
Serica, which has expanded production sharply through acquisitions and investments in recent years, also replaced its chairman and chief financial officer in the past year.
Tony Craven Walker, a pioneer of British North Sea oil, stepped down as chairman last June after 18 years in the role and was succeeded by David Latin. Experienced oil and gas adviser Martin Copeland succeeded Andy Bell as CFO.
Serica said Latin will drop interim CEO duties once Cox takes over.
Latin said Cox was a good fit with Serica's ambitions to grow through acquisitions due to "his track record in leadership and teambuilding as CEO of substantial upstream entities operating in multiple geographies including the UK and Norway."
Last month, Serica said it was seeking opportunities elsewhere in the North Sea, particularly Norway, after it reported a sharp drop in profit last year.
Reporting by Yamini Kalia and Deep Vakil in Bengaluru; Editing by Nivedita Bhattacharjee, Varun H K and Susan Fenton
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
