Providence Resources Plc has announced that Mr. Stephen Carroll is stepping down from the Board as Finance Director for health reasons. He will continue to be available to the Company to ensure an orderly transition within the finance team.
Mr. Philip O'Quigley has been appointed as Chief Financial Officer with immediate effect. A Chartered Accountant, Philip has held senior executive positions in a number of oil and gas and mining businesses over the past 17 years, including Glencar Mining and Petroceltic.
"We are very sad that Stephen is stepping down and we wish him every success," said CEO Tony O'Reilly. "Stephen has been an integral part of the Providence team since 1999, and during this time the Company has grown very significantly from a market capitalisation of some GBP10 million to c. GBP250 million today. On behalf of the all the members of the board, the staff and indeed the shareholders, I want to thank Stephen for all that he has done for Providence."
O'Reilly went on to welcome O'Quigley to the company. "We welcome Philip to head up the finance side of Providence," he said. "His skills and experience within our industry will be of immense value as Providence moves to the next stage of its corporate development."
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