IOG Names Interim Chair Following MacAulay's Resignation

Net Zero UK gas and infrastructure operator IOG has named Esa Ikaheimonen as Chair on an interim basis. The appointment follows Fiona MacAulay’s decision to not stand for re-election as a director of the company at the upcoming Annual General Meeting. MacAulay, who has been Chair of IOG since December 2018 has also resigned from her position as a Director.

The company said in its statement it intends to name Esa Ikaheimonen Chair of IOG initially on an interim basis, following the AGM. Ikaheimonen has been the Senior Independent Non-Executive Director at IOG since March 2019 and is the current Chair of the Audit Committee, the company’s statement reads. Ikaheimonen boasts 30 years of oil and gas industry experience and is currently CFO at ADNOC Drilling Company PJSC and Non-Executive Director of Averda International. His previous experience includes spells at Shell, Transocean and Vantage Drilling.

The company said it has initiated a process to recruit two further Non-Executive Directors to provide further Board strength in depth for the next phase of the business.

“It has been a real honor to have served as Chair of IOG as we grew from an unfunded concept into the UK’s newest gas producer. The journey has not been without its challenges but thanks to the team’s tireless efforts, we have made much progress in that time. Looking forward, I have great confidence that the refreshed management team can regain momentum and realize the true potential of this business,” Fiona MacAulay, outgoing Chair of IOG, commented.

“It has been a pleasure working with Fiona as she helped guide IOG through its development and early stages as a gas production company. We wish her the best in her future endeavors. As we run a process to further strengthen the Board, Esa is ideally placed to step into the role of Interim Chair. He brings his deep understanding of the Company, a wealth of industry expertise and extensive financial and commercial experience to the role,” said, Rupert Newall, CEO of IOG.

“I would like to thank Fiona for her great contribution to IOG’s progress. I am delighted to have the opportunity to chair the Board. I have a robust understanding of the Company’s current challenges and opportunities and am encouraged by the new executive team’s strong collaboration and desire to succeed. Equally, I am very focused on holding them to account on delivering the necessary changes to realize the value in this business,” Esa Ikaheimonen, incoming Chair of IOG, added.

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