Europa Oil & Gas Holdings PLC on Wednesday said its chief executive officer has decided to retire, prompting the immediate promotion of its chief financial officer.

The UK and Ireland focused oil and gas exploration, development and production company said Simon Oddie, the company’s CEO since August 2020 and executive director since November 2019, has decided to retire. He will remain on the board as a non-executive director.

As a result, Europa Oil & Gas promoted current CFO William Holland to CEO with immediate effect.

‘I am pleased that Simon will remain as a non-executive director to ensure a smooth handover and enable business continuity going forward,’ said Chair Brian O’Cathain.

‘Will has been chief finance officer and on the board since April 2022 and has already been able to make a significant contribution to Europa. Will has the skills required to continue to grow and expand the business as we look to create further value for our shareholders.’

Outgoing CEO Oddie commented: ‘I believe this is the right time to pass the baton to Will following a very busy period of real change for Europa.

‘As CEO I have overseen a re-balancing of Europa’s portfolio, notably with first oil and ongoing production at the Wressle field, the addition of a third leg to our business by securing a late-stage appraisal project at Serenity and further progress on the exploration position in the proven gas play of the Slyne basin offshore Ireland. I look forward to continuing to help grow the business in a non-executive capacity.’

Shares in Europa Oil & Gas were down 2.1% to 1.15 pence each in London on Wednesday at midday.

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