Ithaca Energy, a leading independent oil and gas operator in the North Sea announces that Alan Bruce, Chief Executive Officer, having led the Company through a successful IPO and first year as a listed company, has agreed with the Board that he will step down from his role as Chief Executive Officer to pursue new opportunities.

The Board will progress with a formal search process to appoint a new Chief Executive Officer as soon as possible and will update the market in due course. Until a new Chief Executive Officer is appointed, Iain Lewis will fulfil a dual role of Interim Chief Executive Officer with immediate effect, as well as continuing as Chief Financial Officer, working alongside Gilad Myerson, Executive Chairman and the Company’s experienced Leadership Team.

Gilad 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 CEO, working in collaboration with myself and with the support of the Board.”

Alan 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, 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.”

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