Nexus advised that Richard Cottee has resigned as Managing Director and has ceased employment effective immediately with the company. On behalf of the Board we wish him well for the future. We are appreciative of his efforts since joining the company.
Michael Fowler (Chairman) and Ian Boserio (Director) will act as Executive Directors in the short term, working alongside Michael Maloney (Chief Operating Officer) and the leadership team. Michael Fowler previously held the role as Executive Chairman during a period of restructuring the company and Ian Boserio has been a Non Executive Director for nearly two years. Prior to joining Nexus, the majority of Ian Boserio' career was with Shell where in his last role he was instrumental in rebuilding Shell's Australian exploration position. Nexus will commence a recruitment process to appoint a Chief Executive Officer.
Michael Fowler said, "Nexus is in a strong financial position and is on track to achieving our targets. We plan to commercialize value for Crux and achieve FID while farming down part of our Crux interest ahead of development. Longtom continues to achieve favorable gas sales and surplus cash flows."
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