TMK Energy CEO Dougal Ferguson resigns
Key points
- TMK Energy CEO Dougal Ferguson has formally resigned from his position to pursue future endeavours.
- Following the leadership change announcement, TMK Energy shares fell 9.52% to settle at $0.095.
- The board has initiated a formal recruitment process to appoint a successor to advance the Gurvantes XXXV Project.
TMK Energy (ASX:TMK) announced on Nov. 6 that CEO Dougal Ferguson has resigned from his position.
The executive transition follows a period of corporate restructuring and project development work across the company's energy assets in Mongolia.
"Dougal leaves the company with a strong foundation to build on, with significant operational gains being made during his tenure and a far more robust corporate structure and shareholder base," said TMK Energy Chairman Professor John Warburton.
The board stated that the recruitment process for an incoming chief executive officer will focus on finding a candidate with the skills required to appraise, develop, and commercialise its wholly owned Gurvantes XXXV Project.
Following the announcement, the TMK Energy share price was down at $0.095.
The Gurvantes XXXV Coal Seam Gas Project is located in the South Gobi Basin of Mongolia and represents the core focus of the company's resource development portfolio.
The exploration asset was originally transitioned from private ownership into an ASX listing before TMK eventually secured 100% ownership of the project.
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