KEVIN Hart is no longer part of the management team at Bowleven, the oil and gas company, which suffered a boardroom upheaval after a campaign for change by a rebel investor.
Mr Hart remained chief executive of Edinburgh-based Bowleven after being voted off the board with four other directors on March 14.
However, a spokesperson for Bowleven said yesterday Mr Hart was no longer involved in running the company.
The spokesman said former finance director Kerry Crawford had also left the management team. Ms Crawford had initially remained finance director after being voted off the board with Mr Hart. The spokesman gave no further details.
The latest annual report for Cameroon-focused Bowlevan states Mr Hart and Ms Crawford were employed on 12 month notice periods. It was published in November. Mr Hart received a $514,000 salary in the year to June 30. Ms Crawford’s salary was $297,000.
The boardroom changes followed a general meeting earlier this month, when two new directors were appointed.
Crown Ocean Capital proposed the changes. A resolution it proposed for Bowleven’s chairman Billy Allan to be voted off the board was defeated.
Crown Ocean, which has a 23 per cent stake in Bowleven, has requisitioned a second general meeting at which it wants Mr Allan voted off the board and two new directors appointed.
Bowleven said yesterday it had $90 million cash on March 24, compared with around $95m on December 31. Directors have launched a strategic review of all options available to the company.
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