Buru Energy Ltd (ASX:BRU, OTC:BRNGF) has strengthened its board with the appointment of highly experienced oil and gas senior executive David Maxwell as a non-executive director of the company effective immediately.
The board has also agreed for the Perth-based executive to be offered the role of non-executive chair upon the retirement of the current chair Eric Streitberg on August 15, 2024.
This appointment follows a structured search for a suitably qualified director who was able to assume the role of chair.
“Outstanding skill set”
Streitberg, who advised his intention to retire from the board at the company’s Annual General Meeting on May 30, 2024, said: “Buru is commencing a very exciting development phase and David has the skills and experience, together with our recently appointed CEO, Thomas Nador, to deliver the value from our assets.
“David’s in-depth knowledge of the Australian gas industry brings an outstanding skill set to his pending role as chair and I am personally delighted he has agreed to join the board.”
Industry experience
Maxwell has had senior responsibility for the identification, development, commercialisation and delivery of new gas projects in Australia.
His most recent role was as managing director and CEO of Cooper Energy while the company built its significant Eastern Australia gas business.
He also held leadership positions with BG Group, now owned by Shell (LON:RDSa), which identified and delivered QC LNG, the first LNG project in Queensland.
Maxwell has also held executive roles with major Australian oil & gas industry companies Woodside Energy and Santos.
“Building on foundations”
"I’m very much looking forward to working with the Buru directors and management, building on the foundations already created by the team as we move forward and deliver the full value and potential of the company," Maxwell said.
“Having undertaken a detailed review of the company’s operations, including travelling to Buru’s sites in the Kimberley and considering the commercial opportunities they present, I am confident that Buru can deliver significant value for its shareholders, the Kimberley communities and commercial partners as it develops its assets," he added.
Maxwell holds a Bachelor of Technology (Hons) and a Master of Technology, both from Massey University, and he is a Fellow of the Australian Institute of Company Directors.