Perth-based energy explorer Buru Energy (ASX:BRU) announced the resignation of its CEO, Thomas Nador, effective May 8. Nador's departure is driven by ongoing personal health reasons.
The board expressed its sincere gratitude for his three and a half years of leadership, during which he steered the company through critical exploration phases.
In the interim, executive responsibilities will be shared by Chairman David Maxwell and Director Joanne Williams, supported by Director Malcolm King, to ensure business continuity and a seamless transition.
Despite the leadership shake-up, the Board remains steadfast in its operational goals, particularly the commercialisation of its flagship Rafael Gas and Condensate Project.
Management confirmed that the primary focus remains on achieving the key milestones necessary for a final investment decision and securing the company’s first material cash flows.
Chairman David Maxwell reaffirmed his confidence in the project's intrinsic value, noting that the team is actively pursuing additional value-creation opportunities to improve project metrics and equity retention.
At the time of reporting, Buru Energy's share price was $0.020.