Swedish oil explorer, Lundin Petroleum, announced the appointment of Alex Schneiter as the new CEO of the company on Monday.
Following the former CEO Ashley Heppenstall's decision to step down from his executive position, effective from Oct.1, 2015, Schneiter was appointed as President and CEO of Lundin Petroleum.
Heppenstall was CEO since 2002 and Schneiter acted as Executive Vice President of the company since 2001.
"Ashley has led Lundin Petroleum through a successful period of growth to today as one of the largest companies in Europe. His contribution has been instrumental in the shareholder value creation over this period. He will remain on the board of Lundin Petroleum as well as working closely with other companies related to our family," Ian H. Lundin, board chairman of Lundin Petroleum said.
Swedish Lundin Petroleum is a full subsidiary company of Norwegian company Lundin.
"I welcome this opportunity to lead Lundin Petroleum through our next phase of growth and development. We will continue to focus on growing value in our Norwegian and South East Asian core areas through increasing our resource and production base," commented Schneiter.
By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr