Hurricane Energy has appointed executive search firm Spencer Stuart to source a non-executivec chairman of its board.
The move is line with recommendations made by the Listing and Governance Committee (LGC).
Hurricane is a UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs.
Once a non-executive chairman has been appointed, the company will seek to appoint additional independent non-executive directors.
On the LGC’s recommendation, the company has appointed Boudicca Proxy Ltd (Boudicca), a specialist shareholder engagement and corporate governance consultancy, to assist in evaluating and transitioning the company’s corporate governance policies and procedures towards best practice, benchmarked against those of a premium listed business. Boudicca will work alongside Evercore Partners, which has already been appointed to provide independent advice to the LGC.
John van der Welle, chairman of the LGC, said” “I am pleased to report that the Listing and Governance Committee’s initial recommendations have been made to the Board and have been acted upon. I would like to thank shareholders for their input as part of this process. The LGC’s review of the Company’s organisation and governance structure will continue into the new year. I look forward to updating shareholders on progress in due course.”