Cluff Natural Resources Chairman to Step Down from CEO Role



Natural resources investment company, Cluff Natural Resources plc, announced Monday that its chairman and CEO, Algy Cluff, will step down as CEO.

Cluff will remain chairman of the company and Graham Swindells, currently finance director, will succeed him in the capacity of CEO. The role changes will take effect from February 28.

As chairman, Cluff will continue to be ‘actively involved’ in supporting the on-going development of the business, according to a company statement. Cluff Natural Resources said it intends to make an appointment to fill the finance role ‘in due course’.

"I have committed myself to our company since its inception, but I am now at the stage where I wish to step back from my full-time role to allow me to commit time to other interests, including the launch of a new charity,” Algy Cluff said in a company statement.

“I look forward to continuing to work with the team and support the development of the company as chairman,” he added.

Graham Swindells said he was excited about the prospect of building on the foundations laid by Cluff.

"Our existing oil and gas assets are highly prospective and with additional license awards anticipated when the UK's 30th Licensing Round is announced in Q2 2018, we are well positioned to develop a diversified portfolio of exploration assets from which to create value for our shareholders,” Swindells said in a company statement.



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