Business Irish

Thursday 14 December 2017

Tullow Oil's CFO Ian Springett resigns with immediate effect due to ill health

Ian Springett underwent treatment for a medical condition
Ian Springett underwent treatment for a medical condition
Louise Kelly

Louise Kelly

Tullow Oil's chief financial officer (CFO) has resigned from the firm's board with immediate effect due to ill health.

Ian Springett's resignation follows the Group’s announcement in January that Mr. Springett had taken an extended leave of absence from Tullow in order to undergo treatment for a medical condition.

Les Wood, interim CFO from 5 January 2017, has been appointed as an Executive Director and CFO with immediate effect.

Les joined Tullow in 2014 and was the Group’s Vice President for Commercial and Finance before being appointed interim CFO.

Before joining Tullow, Les worked for BP for 28 years in various positions including regional CFO roles in Canada and the Middle East.

"I am very sorry that Ian’s medical condition has led to his decision to step down from the Board. He has been an invaluable and highly-regarded colleague and friend since he joined the Board of Tullow back in 2008," Aidan Heavey, Chairman of Tullow Oil said.

"His financial acumen and industry expertise were evident from his first day as CFO and he will be greatly missed. We wish him continued success in dealing with his illness.

“Les Wood has over 30 years’ experience within our sector and was the obvious choice following his impressive performance as interim CFO over the past six months. The Board and I look forward to continuing to work closely with him."

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