Buru Energy Ltd (ASX:BRU) has tapped long-term director Eric Streitberg to become non-executive chair, effective from the beginning of the year.
Streitberg has been a director of Buru Energy since its formation via a demerger from ARC Energy after its takeover by AWE Limited in 2008.
As an executive director, he was responsible for the company’s early growth, including the delineation of the tight gas resources of the Canning Basin and the discovery and subsequent development of the Ungani Oilfield.
He became executive chair in 2014 and led the company through several corporate transactions and drilling programs, including the recent Rafael gas and condensate discovery.
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Internal board reshuffle
Streitberg makes the move to non-executive director following the appointment of Thomas Nador to the position of CEO of Buru.
The board chose to offer Streitberg the role as his previous executive duties have been assumed by Nador.
The board thanks Streitberg for his executive service and stated that it looked forward to his continued guidance and counsel in his new role.
“I am very grateful for the support that has been provided to me by the board in my dual roles as executive chair,” Streitberg said.
“I now look forward to working in a non-executive role with the board and with Thomas as he provides the guidance and the energy to continue to transition Buru through the fundamental changes to the energy markets, and in positioning Buru to reflect societal demands for lower emission, affordable and reliable energy supplies.”