Ithaca Appoints Former Statoil Chairman

North Sea-focused Ithaca Energy announced Thursday that it has appointed Jannik Lindbæk as a non-executive director of the company.

Lindbæk previously held the position of chairman of Norway's Statoil, while he has also been chairman of Den norske Bank and of Saga Petroleum. In addition, Lindbæk has served as an adviser to the East African Development Bank and the Nordic Investment Bank.

Analysts at London-based investment bank Westhouse Securities stated in a brief research note Thursday that they see the appointment as positive.

"Ithaca strengthens its board with the addition of Mr Lindbæk who brings extensive experience in Norway's oil & gas industry. This signals that the company plans to maintain its recently acquired (through Valiant Petroleum) position in Norway," they said.




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