Ithaca Energy chief executive Alan Bruce has stepped down after more than two years at the helm.
The Aberdeen firm said its board will start the search for his replacement “as soon as possible”.
Ithaca will “update the market in due course”.
Mr Bruce is celebrating his 42nd birthday this month.
Explaining the sudden departure of its CEO, London-listed Ithaca said he was leaving his post to “pursue new opportunities”.
Chief financial officer Iain Lewis takes over as interim boss
Iain Lewis will fill in temporarily for Mr Bruce while continuing his own duties as chief financial officer.
Mr Lewis will be working alongside executive chairman Gilad Myerson and the company’s leadership team.
Ithaca hailed Mr Bruce’s role in leading it through a successful flotation and first year as a listed company.
Mr Myerson said: “The Ithaca Energy board thank Alan for his hard work and strategic insight over the last two-and-a-half years, and wish him well for the future.
“The search for a new chief executive officer will start as soon as possible.
“In the meantime, our strong leadership team will continue to manage the business, led by Iain as interim chief executive officer, working in collaboration with myself and with the support of the board.”
Outgoing CEO ‘extremely proud’
In Ithaca’s statement announcing the change, Mr Bruce said: “I am extremely proud of what Ithaca Energy has accomplished over the past several years, with the company now established as one of the largest independent operators in the UK.
“Having led the business through its successful IPO (initial public offering), I am leaving with the company in a strong financial and strategic position.
“I would like to thank all of the Ithaca Energy employees who have been instrumental in the company’s success to date and wish them well in the future.”
Key milestones for Mr Bruce at Ithaca
After going public in November 2022, Ithaca was promoted to the FTSE 250 list of companies last March.
Mr Bruce was also at the helm during the firm’s takeover of Siccar Point Energy.
And late last year Ithaca completed its acquisition of Shell’s remaining 30% stake in the Cambo field west of Shetland. Ithaca now owns 100% of Cambo but is looking to bring in a new venture partner on Cambo ahead of a final investment decision.
Mr Bruce joined Ithaca as chief operating officer in August 2021, having previously spent nearly 17 years with ConocoPhillips.
He was unveiled as the firm’s new CEO in April 2022, filling a vacancy caused by the death of former boss Bill Dunnett.
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