Appointment of Non-Executive Director

RNS Number : 7248T

Cairn Energy PLC

10 January 2017

 

FOR IMMEDIATE RELEASE                                                                                            10 January 2017

CAIRN ENERGY PLC ("Cairn" or "the Company")

Appointment of Non-Executive Director

Cairn is pleased to announce the appointment of Nicoletta Giadrossi as an independent non-executive director with effect from 10 January 2017.

Nicoletta will also become a member of the Company's remuneration committee.

Nicoletta Giadrossi

Nicoletta Giadrossi holds a BA in Mathematics & Economics from Yale University and an MBA from Harvard Business School. She began her career with The Boston Consulting Group before moving to General Electric, where she progressed through a series of P&L management roles in several European divisions in Equipment and Capital Goods before taking on global responsibility for GE's Oil & Gas Refinery & Petrochemicals Division, based in Florence.

Nicoletta subsequently spent three years in private equity based in Paris before returning to the Oil and Gas industry as VP & General Manager, EMEA at Dresser-Rand. Following the sale of Dresser-Rand to Siemens, Nicoletta moved to Norway as Investment Director in holding company Aker Asa, where she was responsible for overseeing the main portfolio company, Aker Solutions, and a member of its board of directors. She subsequently was appointed Head of Operations at Aker Solutions.  In 2014 she took up the role of President Europe, Africa, Russia & India at Technip, where she had oversight of €3.7 billion revenues, more than 10,000 employees and responsibility for onshore, offshore and subsea activities in the Region.

Following Technip's merger with FMC, Nicoletta has focused on non-executive director roles and she is currently an independent non-executive board member at Fincantieri, Bureau Veritas and Faiveley Transport, as well as on the board of Senior Advisors for Bain Capital Partners.

Ian Tyler, Chairman of Cairn, said:

"I am delighted to welcome Nicoletta Giadrossi to the Cairn Energy Board. Nicoletta brings a wealth of international senior management and oil and gas industry experience. Her appointment will bring additional breadth to our Board and provide a different perspective on our business."

NOTES

1.   Cairn instructed independent recruitment consultants Spencer Stuart in connection with the appointment of Nicoletta Giadrossi.

2.   Nicoletta Giadrossi does not currently hold any Cairn shares and no further information in connection with her appointment is required to be disclosed pursuant to Listing Rule 9.6.13R.

3.   The fees payable to Nicoletta Giadrossi in her role as non-executive director are currently £74,900 per annum. The fees payable to Cairn's non-executive directors are reviewed on an annual basis.

 

END

 

 

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