BOWLEVEN chairman Billy Allan has resigned while the oil and gas company is parting company with its former chief executive Kevin Hart and finance director Kerry Crawford following a campaign for change by an investor.
Edinburgh-based Bowleven told investors Mr Allan had resigned as a director with immediate effect and thanked him for his 18 months service to the company.
It added: “The board confirms that the employment contracts of both former executive directors Kevin Hart and Kerry Crawford have been terminated with effect from 31 March 2017, and both are no longer involved in the running of the Company.”
Shareholders voted for Mr Hart and Ms Crawford to be removed from the board with three other directors on 14 March. Resolutions calling for their removal were proposed by Monaco-based Crown Ocean Capital.
A resolution proposing that Mr Allan be ousted was defeated.
Mr Allan will be succeeded by corporate lawyer Christopher Ashworth who was voted on to the board along with turnaround expert Eli Chahin.
Crown Ocean proposed the appointment of the two new directors, who will run Bowleven with chief operating officer David Clarkson.
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