Tuesday 17 October 2017

Petroceltic CEO sees off shareholder challenge to retain his job

Brian O'Cathain, chief executive of Petroceltic
Brian O'Cathain, chief executive of Petroceltic
Donal O'Donovan

Donal O'Donovan

Brian O’Cathain has seen off a shareholder challenge to retain his job as chief executive of Petroceltic.

Just over 61pc of shareholders voted against a motion proposed by shareholder Worldview to unseat the head of the Irish oil and gas company, versus 39pc in favour, at an extraordinary general meeting (EGM) today.

Separate motions proposed by Worldview to appoint Maurice Dijols and Angelo Moskov to the board were also defeated.

In the case of Mr Dijols the margin was wafer thin with 50.92pc of votes cast against him and more than 49pc in favour.

Two new directors, Nicholas Gay and Neeve Billis will join the Petroceltic board, after the two company nominees were elected by shareholders. 

Online Editors

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