Serica Energy PLC on Tuesday announced the appointment of Chris Cox as chief executive officer with effect July 1.

The London-based independent upstream oil and gas producer revealed earlier this year that CEO Mitch Flegg would step down after six years following the release of the company’s annual report in April.

Since then David Latin, the company’s chair, filled the vacancy on an interim basis.

Cox, currently serves as non-executive director at Nostrum Oil and Gas PLC. He possesses over forty years of industry experience having held various executive positions elsewhere including CEO of Spirit Energy Ltd.

‘We are delighted to have secured the services of Chris Cox after a rigorous recruitment process. His technical and commercial acumen, combined with his track record in leadership and team building as CEO of substantial upstream entities operating in multiple geographies...make him an excellent fit,’ Latin said.

Following his appointment Cox said he aims to increase shareholder value through mergers and acquisitions while realising growth from the company’s existing portfolio.

Serica shares were up 0.8% to 181.70 pence each in London on Tuesday afternoon.

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