- Horizon Oil (HZN) appoints Richard Beament as Managing Director and CEO, effective July 1
- Mr Beament’s appointment is one of four senior leadership changes made by the company
- Current Managing Director and CEO Christopher Hodge will step down on July 1 but will assist with the transfer of his executive responsibilities to Mr Beament until October 31
- Mr Beament’s remuneration package consists of a $527,500 salary including superannuation
- Shares in Horizon Oil are up four per cent, trading at 13 cents as of 10:15 am AEST.
Horizon Oil (HZN) has appointed Richard Beament as Managing Director and CEO, effective July 1.
Mr Beament’s appointment is one of four senior leadership changes made by the company.
Since 2018, Mr Beament has been the Chief Financial Officer and was appointed Company Secretary in September 2021.
He joined the company as Finance and Commercial Manager in May 2010 and has been actively engaged in arranging and managing Horizon’s funding, as well as managing the company’s investments in Maari and Block 22/12.
Mr Beament’s remuneration package consists of a $527,500 salary including superannuation.
Current Managing Director and CEO Christopher Hodge will step down on July 1 but will assist with the transfer of his executive responsibilities to Mr Beament until October 31.
Horizon Chairman Mike Harding thanked Mr Hodge for his contribution and his stewardship during the challenging COVID-19 period and welcomed Mr Beamont on behalf of the Board.
“Richard is highly qualified for the role and has clearly demonstrated his leadership abilities over the years at Horizon,” he said.
“Whilst his background is in finance, he has a deep understanding of the technical side of the business and is the ideal person to drive the company’s strategy.”
The Board has also appointed General Manager of Production and Exploration Gavin Douglas as Chief Operating Officer, Financial Controller Kyle Keen as Chief Financial Officer, and Tax Manager Vasilios Margiankakos as Company Secretary, all effective from July 1.
Only Mr Margiankakos will retain his current role of Tax Manager when he transitions to his new role.
Shares in Horizon Oil were up 4 per cent, trading at 13 cents as of 10:15 am AEST.