Frank Timis Becomes AP’s Super Executive

Frank Timis, founder of African Petroleum(AP), has moved on up from the post of a non-executive chairman to assume the  role of “President of the Executive Committee of the Company”, AP says in a press release, announcing a sweeping board restructuring. The Executive Committee was “formed to implement Board strategy and to exercise the executive powers of the Company”. Charles Matthews replaces Timis as Non Executive Chairman, “and he has consented to the appointment, with immediate effect”, AP notes in the release.

Karl Thompson, the Chief Executive Officer and Executive Director, will be reporting to the president of the executive committee.

Meanwhile, Mark Ashurst is to step down from his role as Chief Financial Officer, but will remain on the Board as an Executive Director. In his stead, AP has appointed Mr Stephen West as Finance Director to take over Mr Ashurst’s financial duties.

Mr Matthews has over 10 years’ experience in chairman and director positions, having been on the board of a number of listed manufacturing and technology companies, including FTSE 250 LSE listed company FKI Plc. He has previously held senior management positions at Cosworth Group, Rolls Royce and Bentley Motor Cars, and has served as a Member of the Vickers Group Executive Board.

He is currently Chairman of LSE listed Porvair Plc, a specialist filtration technologies business in the aerospace and general engineering sectors. Mr Matthews holds a BSc in Geography and Oceanography from the University of Wales, as well as an MBA from Cranfield Business School and a Strategic Marketing qualification from Harvard Business School.

Mr West is a qualified Chartered Accountant who holds a Bachelor of Commerce (Accounting and Business Law) from Curtin University of Technology in Australia, with over 20 years of financial and corporate experience in oil and gas, mining and investment banking industries. Mr West is currently a non-executive director of ASX listed Apollo Consolidated Limited and Zeta Petroleum plc and unlisted Norsve Resources plc. Mr West is not being appointed to the Board.