The CFO of MaxPetroleum has been given a board position after seeing the oil
producer through a lengthy period of upheaval.
Michael Young was at the helm last year when PwC carried out a probe into
undisclosed share options given to executives. Senior management figures
including ex-CEO Steve Kapelle were ousted in the wake of the investigation.
He was appointed as CFO on 1 September 2006, but this was not a board
position, the company said previously.
company said: Max Petroleum announced today plans to restructure its board
of directors. In conjunction with Mark Johnson joining the company as a director
and CEO, Jim Jeffs will move to non-executive chairman of the board, Lee Kraus
and Bob Holland will resume their roles as non-executive directors, and Michael
Young will join the board as FD.’
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