Xtract Energy Plc has appointed Dr George Watkins CBE to the Board as non-executive chairman with immediate effect.

Dr. George Edward Watkins CBE, age 67, holds a BSc in Mining, a PhD in Geophysics and an MSc in Management. He also holds an honorary degree of Doctor of Engineering DEng from Heriot Watt University. George joined the Conoco Group in 1973 and retired as Chairman and Managing Director of ConocoPhillips (UK) Ltd in 2002. He has served as a Non-Executive Director of Abbot Group plc, Paladin Resources plc, PSN Ltd and on the Defence Procurement Agency. He is a Governor of the Robert Gordon University.

John Newton, non-executive chairman, and Mark Nichols, non-executive director, are stepping down from the Board to pursue other business interests with immediate effect.

Peter Moir, chief executive of Xtract, commented,"The Company is pleased that George has agreed to join the Board as his experience in industry will prove invaluable as we continue with our strategy to create a platform for sustainable growth.

"I would also like to take this opportunity to thank both John and Mark for all of their hard work on the Board of Xtract. During this time, they have been an asset to the Company and have played important roles in the successful turnaround of Xtract. I wish them all the best in the future."

George Watkins, new non-executive chairman of Xtract, said, "I am delighted to join this dynamic team at this exciting time in the Company's evolution from an investing company to an operational company. The management have effected a successful turnaround of the business and have established a powerful platform for growth."

Tags: Xtract Energy