Sector News

Categories

Borderless Insights

Image
Negotiating Terms with a New Employer
Image
Beyond Flowers and Platitudes: Reclaiming the Essence of International Women’s Day
Image
Visionary or ‘Stuck-in-the-Mud’? Where are you on Workplace Flexibility?

Gulfsands Petroleum removes CEO, appoints new executive chairman

April 14, 2015
News
(Reuters) – Gulfsands Petroleum Plc said it removed Mahdi Sajjad as chief executive and appointed Alastair Beardsall as executive chairman of the company with immediate effect.
 
The oil and gas production, exploration and development company, which operates in Syria, Morocco, Tunisia and Colombia said Sajjad would remain as a director of the company. (bit.ly/1OurN3T)
 
Outgoing chairman Andrew West has agreed to remain as a non-executive director with the company.
 
Waterford Finance and Investment Ltd, which owns about 26.5 percent of Gulfsands, had called for the removal of Sajjad and Commercial Director Kenneth Judge, alleging that the management had failed to build a viable business outside Syria.
 
Beardsall and other executive directors would evaluate the company’s strategic options and related funding requirements, the company said in a statement.
 
The company said last month that it was in talks with its major shareholders to secure immediate working capital as it struggles to repay some debt and continue funding operations. (Reporting by Roshni Menon in Bengaluru; Editing by Anupama Dwivedi)

comments closed

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

Read more
August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

Read more
August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Consumer Packaged Goods

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Read more
More news

How can we help you?

We're easy to reach