- Galilee Energy (GLL) appoints an experienced coal seam gas expert as its new Managing Director
- David Casey takes over from Peter Lansom who retired from the role in May following the company’s announcement of a management restructure
- Mr Casey was the author of the original scoping study for GLL’s Glenaras Project in Queensland
- Interim Managing Director Dr David King will step down and also retire from the board after 8 years service to the company
- Shares in Galilee Energy were down 2.44 per cent to $0.40 at the close of trading on Thursday
Galilee Energy (GLL) has appointed an experienced coal seam gas expert as its new Managing Director.
David Casey takes over from Peter Lansom who retired from the role in May following the company’s announcement of a management restructure.
Mr Casey was the author of the original scoping study for GLL’s Glenaras Project in Queensland, and therefore has a clear understanding of the company’s core asset.
After working as a manager, technical expert and advisor on projects across Australia and Asia, Mr Casey is recognised internationally as an expert in coal seam gas exploration and development.
According to the Chairman Ray Shorrocks, the appointment is a “real coup” for the company and its shareholders.
“He will bring a wealth of experience and expertise in our core business area, as well as a new perspective on complimentary ESG friendly opportunities,” Mr Shorrocks said.
The position will become effective from December 1, and will see Mr Casey earn a salary of $450,000 per year plus 10 per cent superannuation.
Additionally, he will receive an upfront sign-on fee of $250,000, which will be repayable immediately if, for whatever reason, Mr Casey ceases to be employed by the company prior to his start date.
Mr Casey will also be entitled to participate in any of the company’s short term and long term incentive plans.
Galilee said the new appointment rounds out an executive team highly qualified to deliver the Glenaras Project.
Interim Managing Director Dr David King will step down and also retire from the board after 8 years service to the company as Chairman, non-executive Director and interim Managing Director.
Shares in Galilee Energy were down 2.44 per cent to $0.40 at the close of trading on Thursday.