BURU Energy executive chairman and founder Eric Streitberg will take on the role of managing director after Dr Keiran Wulff entered into an agreement to relinquish his executive position and resign as a director of the company.
Mr Streitberg said Dr Wulff had worked to position the company to achieve long-term growth through the recent regulatory approvals for the Laurel Formation Tight Gas Pilot Exploration Program, the agreement with the Noonkanbah Traditional Owners and advancing the other traditional owner agreements.
“He has demonstrated a passionate commitment to achieving fair and mutually beneficial outcomes for all stakeholders, particularly the Traditional Owners in the Kimberley,” he said.
“The board thanks him for his contributions and wishes him well for the future.”
In addition to changes at the top, Buru announced that independent non-executive directors Eve Howell and Robert Willes had been appointed to the board.
Mr Streitberg said the company’s structured search process for additional directors hd identified a number of outstanding candidates.
He said Ms Howell and Mr Willes’ experience made them extremely valuable additions to Buru’s board as it moves forward with the commercialisation of its Canning basin assets.
Ms Howell, a director of ASX-listed Downer EDI, has more than 40 years of experience in the oil and gas industry and has worked for the bag names in the industry, including Apache Corporation and Woodside.
Mr Willes has more than 25 years of extensive international experience in the oil and gas and energy industries – primarily with BP. He is currently managing director of Challenger Energy.
Buru is anticipating the appointment of further independent directors as it continues to restructure the board.