02/12/2013 - 10:45

Empire appoints interim CEO

02/12/2013 - 10:45

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ERM Power's Kent Quinlan has been seconded to the role of interim chief executive at Empire Oil & Gas as they look to permanently fill the role in the near future.

Empire Oil & Gas chairman Tony Iannello.

ERM Power's Kent Quinlan has been seconded to the role of interim chief executive at Empire Oil & Gas as they look to permanently fill the role in the near future.

Empire Oil & Gas will pay $27,000 a month plus expenses to its majority shareholder ERM Power for the services of Mr Quinlan, who is ERM's chief financial officer.

It is expected he will remain in the role for the next three to six months as Empire looks for a permanent replacement.

Mr Quinlan has worked in Queensland’s resource sector for close to 25 years and was previously the manager of strategic planning at the Queensland Gas Company. He has held financial management roles with Energex Retail, Origin Energy, Santos, and Mount Isa Mines.

Empire will also seek two new independent non-executive directors to join the Empire board.

Empire’s current chairman, Tony Iannello, will remain on the board of as a non-executive director following the appointment of a new chairman.

Mr Iannello said Mr Quinlan’s financial and energy industry experience would be invaluable to Empire as the company undertook a full review of its financial, operational and legal affairs.

“Kent’s skills and experience will be vital to the process of assessing Empire’s current position and unlocking the value of its assets for the benefit of all shareholders,” Mr Iannello said.

“The Empire board looks forward to updating shareholders as we progress our review and growth strategy.”

ERM shares remain unchanged at $2.25, whilst Empire's shares are also level at 1.3 cents per share, as of 12.15am, WST.

 

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