Further to Bahamas Petroleum’s statement of 5 September 2011, the board of Bahamas Petroleum announce the formal appointment of Simon Potter as Chief Executive Officer of the Company with effect from 17 October 2011.
The Board also regrets to announce that Alan Burns , Founder and Chairman of Bahamas Petroleum, is to step down as Chairman and resign as a Director, with effect from 30 September 2011, to ensure he is more able to fully devote himself to his continuing recovery from illness. In recognition of Alan’s importance to the business, in relation to both its foundation and to its future growth, the Board has invited Mr Burns to become President of Bahamas Petroleum.
Further, Michael Proffitt has tendered his notice to resign as a Director of Bahamas Petroleum with effect from 30 September 2011 to more fully devote himself to his many other varied business interests.
The Board would like to thank Mr Burns and Mr Proffitt for their service to the Company and for their continuing commitment to assisting where appropriate in ensuring Bahamas Petroleum’s future success.
The Board will begin immediately a process, in conjunction with Mr. Potter, to identify potential new Board members to help provide the impetus, challenge and guidance that will stand the Company in good stead during the next phase of growth.
Commenting, Steve Weyel (Non-Executive Director) said;
“ It has been Alan’s vision and Mike’s perseverance that have brought us to where we are today, with the Company well financed, acquiring new sub-surface data and poised to enter a new phase of growth. The breadth and depth of Simon’s commercial and technical experience and relationship management skills will be crucial in providing the Board and shareholders with the necessary assurance that the Company is focused on those activities that will truly leverage future value. ”
[mappress] Source: Bahamas Petroleum , September 13, 2011;