- CEO and Managing Director of Triangle Energy (TEG) Robert Towner resigns from the company and its subsidiaries
- Mr Towner was appointed into these roles in July 2014 and since then Triangle has become the majority owner and operator of the Cliff Head Oil Field and Arrowsmith Plant
- Triangle is now in discussions with a number of potential interim CEOs and expects to make an announcement shortly
- In addition to Mr Towner’s resignation, Wai-Lid Wong has resigned as Non-Executive Director, a role in which he has been in since April 2018
- Triangle is down 12.5 per cent on the market with shares trading at 1.4 cents
CEO and Managing Director of Triangle Energy (TEG) Robert Towner has resigned from the company and its subsidiaries.
Mr Towner was appointed into the roles of CEO and Managing Director in July 2014 and has been involved with the company for more than nine years. Prior to these roles, he was Head of Corporate Development and Strategy.
He has over 25 years of corporate advisory and executive experience in the energy and biotechnology sectors, specifically in project development and business.
Since Mr Towner’s appointment, Triangle has become the majority owner and operator of the Cliff Head Oil Field and Arrowsmith Stabilisation Plant with a 78.75 per cent holding.
Chairman Timothy Monckton has acknowledged and thanked Mr Towner for his significant and valuable contribution to Triangle.
“The board and management of Triangle have greatly valued the depth of experience and support Rob provided during his considerable tenure, and we thank him for his service and ongoing friendship,” he said.
“Rob has seen the company through substantial change, having managed its transition from operating Indonesian based assets to establishing a portfolio of Australian oil and gas projects, including the producing Cliff Head Oil Field and associated infrastructure in the Perth Basin.”
Triangle is now in discussions with a number of potential interim CEOs and expects to make an announcement shortly.
In addition to Mr Towner’s resignation, Wai-Lid Wong has resigned as Non-Executive Director, a role in which he has been in since April 2018.
Currently, he is Chief Operating Officer for Tamarind Resources where he is responsible for the delivery of all aspects of Tamarind’s business,
“Wai-Lind has been a highly effective and valuable Director of Triangle,” Mr Monkton added.
“His experience and insight has been of great value to the board and management team. We thanks him for his guidance and wish him the best with his other business interests.”
Triangle’s board now comprises Timothy Monckton as Non-Executive Chairman and Malcolm King and Deanna Carpenter as Non-Executive Directors.
Triangle was down 12.5 per cent on the market with shares trading at 1.4 cents at 2:02 pm AEDT.