Galilee Energy’s (ASX:GLL) Managing Director retires after eight years

• Galilee Energy’s (GLL) Managing Director, Peter Lansom, is retiring after eight years in the role
• The decision comes after the company announced it will be looking at restructuring its management to lead Galilee into the next phase of development
• Peter will remain committed to the company to progress its resources and reserves growth going forward
• Current Non-Executive Director and former Chairman Dr David King will take on the role while the company searches for a new Managing Director
• On the market this afternoon, Galilee is up 2.01 per cent and is trading at 76 cents per share

After eight years, Galilee Energy’s (GLL) Managing Director, Peter Lansom, will retire from his role.

The decision comes after the company announced it will be looking at restructuring its management to lead Galilee into the next phase of development in Galilee Basin.

Peter will remain committed to the company to progress its resources and reserves growth going forward.

“On behalf of the board and shareholders I wish to thank Peter for his invaluable contribution in getting the Glenaras gas pilot to this most exciting stage,” Chairman Ray Shorrocks said.

“Whilst Peter will not continue to lead the company on a day-to-day basis, he will nevertheless still play an invaluable and hands-on role in the commercialisation of the company’s exciting projects,” he added.

Current Non-Executive Director and former Chairman Dr David King will take on the role while the company searches for a new Managing Director.

Earlier this month, Galilee announced it has nearly completed the final stages in its pilot pump enhancement project for the Glenaras multi-well pilot program, located in Queensland’s Galilee Basin.

On the market this afternoon, Galilee is up 2.01 per cent and is trading at 76 cents per share at 1:46 pm AEST.