Australia's Santos Ltd. announced Friday the establishment of the new executive team (Excom) reporting to the CEO, Kevin Gallagher. The following senior executives will comprise the Excom:
Kevin Gallagher Santos managing director & CEO said: "The appointment of the Excom is a key step in establishing a new operating model for Santos that is focused on both lifting productivity and driving long-term value for shareholders in a low oil price environment.
"The new model involves a move away from geographic based business units to an asset focused model with strong technical capabilities in our primary business of exploration, development and production of oil and natural gas both onshore and offshore.
“The transition to the new model will be an orderly process over the next few months, consistent with our commitment to safe sustainable development and operations.
“Corporate functions will be consolidated to further reduce costs and improve effectiveness.
“We will manage our asset portfolio in a manner which delivers value to Santos shareholders.
Members of the Excom will be based in Adelaide. Other staff will continue to be based at or close to our assets.
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