Premier Oil CEO to Step Down

UK independent Premier Oil announced Tuesday that CEO Simon Lockett has notified it that he intends to step down. Lockett has agreed to remain CEO until a successor has been identified and appointed, Premier added.

Lockett said in a statement:

"It has been a privilege to lead Premier during a transformational period in the company's history, through the global financial crisis and Premier's 75-year anniversary. Building a world class independent exploration, development and production company takes vision, dedication and passion, and I have attempted to bring these to my time as CEO of Premier.

"We can be proud of what we as a team have achieved but, after nine years, I believe now is an appropriate time for a change in leadership as the business moves into its next phase. I am also looking forward to pursuing new business opportunities but in the meantime will continue to devote all my energies to ensuring the continued success of Premier."

Premier Chairman Mike Welton added:

"I would like to thank Simon on behalf of the board, shareholders and staff for his enormous commitment and contribution to Premier over the past 9 years. The board wishes Simon well as he moves on to new ventures and thanks him for acting to ensure a smooth transition for the business until his successor is appointed."

Premier is an independent international oil and gas firm with a focus on the North Sea and South East Asia.

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