Liquefied Natural Gas Limited (LNG Ltd) has extended the Employment Agreement for the current Managing Director and Chief Executive Officer, Mr F. Maurice Brand to 30 June 2017.
LNG Ltd Chairman, Richard Beresford, has claimed that continuity is essential in order to ensure that LNG Ltd delivers several of its major goals in the short-term to ensure that it completes Financial Close of Magnolia LNG in mid-2015.
In a statement released on its website, LNG Ltd said that Mr Brand has been the driving force behind Magnolia LNG. Mr Brand will continue to build a fully integrated team to execute Magnolia [LNG] with the target of first LNG in 2018.
Mr Beresford said: "The Directors are delighted with the [LNG Ltd’s] overall progress and that Maurice has agreed to continue until his planned retirement in 2017. During this time the Directors will also be working with Maurice on a succession plan."
Mr Brand added: "It really is a very exciting time for all our shareholders and a privilege to continue to be able to work with an extremely talented and dedicated group of executives, management and staff who are all committed to continue delivering value for our shareholders."
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/26092014/lng-ltd-extends-employment-agreement-1481/