(Alliance News) - Kenmare Resources PLC on Thursday named former Tullow Oil PLC chief financial officer Tom Hickey as its new financial director.
Kenmare is a Dublin-based titanium minerals and zircon producer operating the Moma mine in northern Mozambique.
Hickey will be appointed as an executive director on the same date, September 26.
Hickey will succeed Tony McCluskey who will step down as finance director in September; however he continue to be employed by the company for a period to facilitate the transfer of responsibilities.
Kenmare said that Hickey has "significant" financial and natural resources experience, having served as an executive director of various public companies for the last 15 years.
This includes eight years a CFO of the Africa and South America-focused oil and gas producer Tullow Oil from 2000 to 2008.
"During this time, he developed and implemented the financial strategy that saw Tullow grow from a micro-cap company to a FTSE 100 business valued at USD15 billion. He was central to the success of major acquisitions and debt and equity fundings, as well as responsible for capital allocation of an annual budget of over USD700 million," the company said.
Between 2010 and 2016, Hickey moved to oil and gas exploration company Petroceltic International PLC, including as CFO.
Managing Director Michael Carvill said: "I am delighted to welcome Tom to Kenmare's management team. He is a well-known figure in the natural resources industry and his extensive financial, strategic and capital markets experience will be highly complementary to our current executive capabilities.
"I would like to thank Tony again for his tremendous contribution to Kenmare over the 31 years he has been part of the team."
Shares in Kenmare Resources were up 0.3% to 448.50 pence each in London on Friday afternoon.
By Sophie Rose; sophierose@alliancenews.com
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Kenmare Resources (KMR)
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