Cairn Energy announces Nicoletta Giadrossi as new chair

The FTSE 250 firm said she would succeed Ian Tyler who, after seven years on the Cairn board, including six as chairman, announced in May that he would retire from the board on appointment of a successor.

Giadrossi was first appointed to the Board in January 2017.

The directors said she had “extensive” experience in oil and gas and other energy markets, both in executive and non-executive roles, including wide engagement on environmental, social and governance issues.

Her appointment as chair followed a “thorough and comprehensive” succession process, and will enable an effective transition of the leadership of the board, the company explained.

From 1 January, Nicoletta would step down as chair of the remuneration committee and would also retire as a member of the audit committee.

Alison Wood would take over the role of chair of the remuneration committee, while Erik Daugbjerg would be appointed a member of the remuneration committee and Catherine Krajicek would be appointed a member of the audit committee.

“I very much look forward to continuing to work with Nicoletta in her new role as chair of the Board - she brings a huge breadth of knowledge and experience and will provide important continuity for Cairn as we position the company for continued growth and success,” said chief executive officer Simon Thomson.

“On behalf of the Board, I would also like to thank Ian Tyler for his invaluable contribution as non-executive chairman of the company since 2014.”

At 0919 GMT, shares in Cairn Energy were down 0.99% at 160p.