St. Peter Port, United Kingdom - August 24, 2009, St. Peter Port, United Kingdom - Tethys Petroleum Limited announced changes to its Board of Directors, effective September 1.
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Colin Smith, currently non-executive director and Chairman of the Company's Audit Committee, will step down due to other business commitments and be replaced as non-executive director and Chairman of the Audit Committee by Marcus Rhodes.
Paul Murphy, currently non-executive director, will step down due to other business commitments and be replaced as non-executive director by James Rawls.
Marcus Rhodes is a Chartered Accountant and experienced auditor. He spent some 17 years working in Eastern Europe and the former Soviet Union, most recently as an Audit Partner with Ernst & Young in their Moscow office. He has worked with a wide variety of clients in many industry sectors including retail and consumer products, paper and pulp, pharmaceuticals, hotels, iron & steel manufacture, aluminium manufacture and mining, as Audit Partner, Head of the Audit Practice, Head of Retail and Consumer Products and Advisory Partner in respect of structural and reporting issues relating to audit committees.
Mr. Rhodes was also the Partner responsible for establishing the Arthur Andersen practice in Uzbekistan and has worked on and been responsible Audit Partner on a number of Russian related IPO's and advised on Eurobond and Russian bond issues. He is currently an independent consultant and also serves as Head of the Audit Committee and non-executive director for three leading Russian companies in the food, beverage and restaurant sectors. He holds a B.Sc. (Hons) degree in Economics and Economic History from the Loughborough University (England), and is a Member of the Institute of Chartered Accountants of England & Wales.
James Rawls is a registered Petroleum Engineer with over 35 years industry experience in engineering and finance; he is currently the owner and manager of Rawls Resources, Inc., a private oil and gas exploration company. He worked for Exxon Company USA in onshore and offshore development as a Senior Project Engineer, and later went on to a successful 12 year career in banking as Manager of the Energy Lending Department of Deposit Guarantee National Bank.
In the early 1990's, he moved back into oil and gas exploration as president of Hughes-Rawls Corporation. Since that time, both in association with others as well as in entities owned individually, Mr. Rawls, has been involved in drilling oil and gas wells both onshore and offshore, in the United States and elsewhere. He is currently involved both in exploration and private investments. ■
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