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Two directors to step down from Cairn Energy

Staff writer |
Edinburgh, United Kingdom - April 11, 2014, Edinburgh, United Kingdom - Cairn Energy, an oil and gas company, announced that Mike Watts, deputy CEO, and Jann Brown, managing director and CFO, will stand down as executive directors at the AGM on May 15, 2014.

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Mr. Watts was formerly CEO and Managing Director of the Amsterdam listed Holland Sea Search, which was acquired by Cairn in 1995,and where he was the architect of the South Asia strategy. He has held senior technical and management roles with Premier, Burmah and Shell.

Mr. Watts is also a non-executive director of SOCO International PLC. He was appointed to the Board in 1999 and became Deputy Chief Executive in March 2009. He is a member of the Group risk management committee.

Ms. Brown joined Cairn in 1998 after a career in the accountancy profession. She is Vice President of the Institute of Chartered Accountants of Scotland (ICAS) and a member of the Chartered Institute of Taxation. She was appointed a non-executive director and chair of the audit committee of Troy Income & Growth Trust plc in January 2013 and is also a member of the 30% Executive Pipeline Action Group.

Ms. Brown is a member of the Governance Committee and attends meetings of the Audit Committee by invitation. She is also chair of the Group Risk Management Committee. She holds an MA from Edinburgh University and a diploma in accounting from Heriot-Watt University.

The company also announced that James Smith will take over the role of Finance Director and will join the Cairn Board as an Executive Director, with effect from the conclusion of the AGM.

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