NEW Age, the oil and gas company which took over running the Etinde licence off Cameroon from Edinburgh-based Bowleven, has announced that sector veteran David Stoopin has succeeded Steve Lowden as chief executive. Mr Lowden will remain chairman of the firm, which he founded in 2007. New Age became operator of the Etinde permit after Bowleven sold stakes in the licence for $250m in 2014. Bowleven was led by Kevin Hart at the time. Mr Hart left the company along with five other board members in March following agitation for change by Monaco-based Crown Ocean Capital. Bowleven retains a stake in Etinde, which contains finds that have not been developed. New Age said the separation of the chairman and chief executive roles reflected the scale and maturity of the group’s business activities, which include operations in Kurdistan.
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