BusinessCompany NewsFD takes over at Regal Petroleum

FD takes over at Regal Petroleum

CEO resigns and FD steps in to run Regal

The FD of Regal Petroleum Roger Phillips has taken over the running of the
company after the sudden resignation of CEO and chairman Paul Morgan.

Morgan resigned after just four months in the chief executive’s chair.
Reports in the national press say his departure follows a clash with Phillips
over the strategic future of Regal.

Phillips has been FD with Regal since September 2004. Prior to that he was
vice president and a director at Amerada Hess, another international energy
company.

Morgan, in common with many executives in the oil gas industry, is a
geologist by training, in contrast with Phillips who is a chartered accountant.

Earlier this year
KPMG
resigned as auditor
of Regal, though the company said there were no
circumstances around the resignantion that required bringing to the attention of
‘members or creditors’.

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