Aminex announced the appointment of Mr. Stuard Detmer to the Board of the Company and to the post of Chief Executive Officer with immediate effect. Mr. Brian Hall, who is currently both Chairman and Chief Executive, will remain as the Company's Executive Chairman. A resolution to approve Mr. Detmer's appointment to the Board will be proposed to shareholders at the Company's next Annual General Meeting.
Stuard Detmer has worked in the oil industry for over 20 years, beginning with Mobil Oil Corporation in the USA, and then in South America and Russia. More recently, he served as Chief Executive at Sibir Energy plc, at the time one of the largest companies on the AIM market, after the company had experienced severe financial difficulties. He successfully navigated Sibir Energy through a highly sensitive situation towards its sale to JSC Gazprom Neft, a subsidiary of Russian gas giant, Gazprom.
Mr. Detmer is a US citizen and holds a BA in Economics from Vanderbilt University and an MBA from the Darden Graduate School of Business Administration at the University of Virginia. He currently serves as Senior Non-Executive Director on the board of Exillon PLC, a London-listed oil company with producing interests in the Russian Federation.
Aminex chairman Brian Hall commented, "I am very pleased that Aminex has been able to secure the services of Stuard Detmer and I warmly welcome him to the Company. Stuard comes with a wealth of relevant experience in the international oil industry and capital markets. The board and I look forward to working with him to develop new initiatives for the Company at a crucial stage in its history."
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