The Board of Directors of PA Resources has decided with immediate effect to appoint Board member Philippe R Probst as the company's CEO. Bo Askvik is thereby leaving his position as CEO but will be available to the company for a number of months. Philippe R Probst will be CEO during an interim period and the Board intends to start immediately on the work of recruiting a permanent CEO.
The newly appointed Chairman of the Board, Sven A Olsson, commented: "With a new Board and a changed ownership structure, it is natural to also replace the CEO."
Philippe R Probst, who has been appointed CEO, has many years of experience of the oil industry with a past which includes Exploration and Production Manager within the Shell Group as well as a position with the Swiss oil company Addax. He presently acts as advisor to companies mainly in Africa and the Middle East.
The new Board and CEO will work to create a long-term stable foundation for the continued operations of PA Resources.
As already announced, Tomas Hedström has been appointed as CFO of the company and took up his position May 2.
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