Premier Oil plc has appointed former Fairfield Energy Chief Financial Officer Iain Macdonald to its board as an independent non-executive director and member of the audit and risk committee, with effect from May 1.
David Lindsell, currently chairman of Premier's audit and risk committee, will stay on the board and act as chairman of the audit and risk committee throughout the forthcoming external audit tender process, which is likely to take place in the fourth quarter of this year. Macdonald will take on the role of chairman of the committee upon the retirement of Lindsell, which is anticipated to be at the company's 2017 annual general meeting.
Prior to his latest role, Macdonald spent 30 years at BP plc in a variety of engineering, licensing, business management and finance roles culminating in 3 years as deputy group CFO. On leaving BP in 2010, he joined Fairfield Energy plc as CFO where he served until 2014. Macdonald is currently a non-executive director and chairman of the audit committee at SUEK plc.
Premier Oil Chairman Mike Welton commented in a company statement:
"I am delighted to welcome Iain to the board and am absolutely confident that his experience and skills will be of enormous value to the board and the company as a whole."
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