Genel Energy chair steps down after five years

(Sharecast News) - Genel Energy's chairman David McManus has decided to step down from the board with immediate effect due to ill health, the oil producer announced on Monday. McManus, who was also chair of the nominations committee and reserves committee, as well as a member of the remuneration committee, had been at the helm of Genel's board since February 2020.

Formerly the chair of Norwegian LNG shipping company FlexLNG, he previously served on the boards of Costain, Rockhopper Exploratio, Hess Corporation, Caza Oil and Gas and Cape.

Canan Ediboğlu, a senior independent non-executive director at Genel, has been appointed as his replacement on an interim basis until a successor is found.

"On behalf of the board and all of Genel, I would like to express our sincere gratitude to David for his unwavering leadership and commitment to the company over the last five years," Ediboğlu said.

"He brought his exceptional skill, experience, and exemplary judgement to bear during a complex and challenging period. We wish David all the very best for the future."