Tullow Oil - comment

Rahul Dhir, the CEO, is looking for a quicker exit than we anticipated, as he is resigning from the Board on February 14th. Tullow continues to seek a new CEO, so in the interim, they will appoint Richard Millar, the current CFO, to hold both positions.  

Richard Millar was appointed CFO in January 2023. He joined Tullow in 2011 from Ernst and Young, where he worked in the audit and assurance practice.  

The current board of Tullow’s board key strengths are in oil exploration and emerging markets, specifically Africa.  However, none of the board has much experience in financial restructuring which is the key requirement in the near term.