Cairn Energy chairman to stand down

Exploration and development firm Cairn Energy revealed on Thursday that long-standing chairman Ian Tyler would be standing down from the group.

Cairn said it would now work to identify and appoint a successor to enable an orderly handover.

The FTSE 250-listed firm said Tyler, who has served as the group's chair for six years, had indicated his commitment to serve as chairman of the board until the process can be completed - which was anticipated to take place "within the next 12 months".