IOG Names New CEO As Andrew Hockey Steps Down

IOG Names New CEO As Andrew Hockey Steps Down
IOG's CEO Andrew Hockey has decided to step down from his post with the company naming Rupert Newall as his successor.

UK’s Net Zero gas and infrastructure operator IOG has made a change at the helm as Andrew Hockey decided to retire after five years in the position. He will be succeeded by Rupert Newall.

After nearly five years in the role, Andrew Hockey has informed the Board of his intention to retire as CEO and step down from the Board with immediate effect. He has agreed to remain with IOG as an advisor to the Board in order to leverage his deep Southern North Sea (SNS) geological, commercial and regulatory expertise in particular to support IOG’s participation in the recently announced 33rd UK Offshore Licensing Round.

Rupert Newall, who will step up to the CEO position has already led IOG’s restructuring and farm-out to CalEnergy Resources in 2019 and joined as CFO. He has also played an instrumental role in IOG’s progress to becoming a UK gas producer.

In addition, David Gibson will step down as Chief Operating Officer (COO) with immediate effect. The Board is pleased to announce the appointment of Dougie Scott as the company’s new COO.  It is intended that Scott will be appointed to the IOG Board following the satisfactory completion of regulatory due diligence.

Scott has 30 years of upstream operational experience, predominantly in the Southern North Sea where he led teams delivering safe and reliable production, drilling, offshore hydraulic stimulation, green and brownfield projects. He has worked amongst others for Shell, RWE Dea UK, and most recently INEOS Oil and Gas where over seven years he held the leadership positions of CEO, Operations Director and Well Delivery and Decommissioning Director.

The Board is also pleased to announce the appointment of John Arthur as CFO with immediate effect. This will not be a Board position. Arthur is already a trusted member of the IOG team, having been Head of Finance since joining in early 2022, and was previously CFO at Aminex.

“Under Andrew’s leadership since early 2018, IOG has been transformed against considerable odds from an unfunded vehicle with disparate assets into a fully funded UK gas producer. I would like to personally thank Andrew on behalf of the Board for all his exceptional hard work and tenacity over the years and am very pleased that he has agreed to stay on to provide his invaluable advice on our 33rd licensing round ambitions. I would also like to thank David Gibson for his tireless efforts in his time as COO, tackling several complex issues to help IOG become the UK’s newest gas producer earlier this year."

“It has been a real privilege to serve as IOG’s CEO since 2018. We have made great progress in that time and with IOG now established as a gas producer, it is the right time to pass on the baton. Having worked extensively with Rupert over my career, I can vouch for his deep industry knowledge, strategic acumen, financial expertise, and drive to succeed. He has been an outstanding asset to IOG since I brought him in as CFO in 2019 and I believe he is the right leader to drive the company forward on its next stage of growth,” Andrew Hockey, outgoing CEO of IOG, said.

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