According to Reuters article published on February 27, 2023, Capricorn Energy (CNE.L) has appointed Clare Mawdsley, previously a director of finance, as its acting chief financial officer, replacing James Smith, the oil and gas producer, which will give a strategy update in April, said on Monday.
Smith had stayed on temporarily after resigning from the company's board earlier this month, as shareholders voted in favour of six new directors activist investor Palliser had proposed.
Shareholders successfully revolted against Capricorn's plans to merge with Israeli gas producer NewMed Energy (NWMDp.TA), leaving the new board with the task of reviewing the firm's strategy and what to do with its $597 million net cash pile.
It said an update on its strategy will come when it reports full-year results on April 27.
Under the NewMed deal, Capricorn would have paid out a $620 million special dividend - sourced mainly from an Indian tax payout - to its shareholders, which the previous leadership said would be cut to around $500 million without the merger.
