The Board of JKX announces that Dipesh J Shah OBE and Michel-Marc Delcommune have been appointed as Non-Executive Directors with effect from 1st June, 2008.
Dipesh Shah, 55, joins the Board with over 30 years experience of the oil and gas sector. He spent more than 20 years with BP during which time he held a range of positions including Chief Economist for BP Oil UK, Chief Executive of various Group businesses and Vice President and General Manager of Acquisitions and Divestments. Mr Shah was also a member of the BP Group Leadership for more than 10 years before leaving BP in 2002. From 2003 to 2006, Mr Shah served as Chief Executive of the UK Atomic Energy Authority where he halved the timescale for nuclear decommissioning and reduced the cost to the taxpayer by £1.5 billion. During this period, he was also non-executive Director and then Chairman of the FTSE 200 utility company, Viridian Group plc, where the value of the business more than doubled during his tenure, leading to its purchase by an infrastructure fund for an enterprise value of £2 billion. Currently, he is Chairman of Jetion Holdin gs Limited and of HG Capital Renewable Power Partners LLP. Mr Shah is a graduate of the Universities of London and Warwick and of the Harvard Business School management programme. Mr Shah was awarded an OBE in the 2007 New Year Honours List.
Michel-Marc Delcommune, 60, spent over 25 years with PetroFina Group where he held a number of prominent positions including Chief Financial Officer, Senior Vice President, Corporate Finance and Insurance in addition to serving on the group's Main Board. In 1999 Mr Delcommune joined MOL Group, the leading central European oil and gas company with refining and marketing operations in eight countries plus exploration and production activities in Hungary, Russia, Kazakhstan, Pakistan, Oman and Yemen. He was MOL Group's Chief Financial Officer and went on to serve as Group Chief Strategy Officer and an Executive Committee member between 2004 and 2006. He retired from executive duties in 2006 but remains as Senior Adviser to MOL's Executive Chairman and is a Non-Executive Director of TVK, a MOL Group petrochemical company listed on the Budapest Stock Exchange. Mr Delcommune is a graduate of chemical engineering from the University of Liege and holds an MBA from Cornell. He is a Belgian national.
JKX Chairman Lord Fraser of Carmyllie said: “We are delighted to welcome Dipesh and Michel-Marc to the Board of JKX. Their combined plc experience and very substantial achievements in the oil and gas sector will further strengthen our expertise and facilitate the execution of our strategy. We look forward to working with them.”
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