Cooper Energy (ASX:COE) announces new CEO, shares up - Kalkine Media

December 20, 2022 12:23 PM AEDT | By Tamnna
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Highlights

  • Cooper Energy appointed Jane Norman as its managing director and CEO.
  • Following the news, Cooper Energy’s shares were trading in the green, up 2.857%.
  • Ms Norman is set to take on the position from 20 March 2023.

On 19 December 2022, an S&P ASX 300-listed energy company Cooper Energy Limited (ASX:COE), announced on the ASX that the company’s existing managing director and CEO, Mr David Maxwell, is retiring from his position in 2023. Ms Jane Norman is going to replace Mr Maxwell as Cooper Energy’s new MD and CEO from 20 March 2023.

This morning (20 December), shares of Cooper Energy were spotted heading north with a gain of 2.857% following yesterday’s ASX announcement. One share of Cooper Energy was priced at AU$0.180 as of 11:20 AM AEDT.

The company also informed that after the transition arrangements are finalised, more information about Mr Maxwell's retirement will be made public.

Despite today’s rise, Cooper Energy’s shares have lost their value by 14.29% in a month. Over six as well as 12 months, the share value of Cooper Energy has dropped about 28% and 30.77% on a year-to-date (YTD) basis.

Who is Cooper Energy’s new CEO: Jane Norman?

Jane Norman is an Australian citizen holding Bachelor of Science and Bachelor of Chemical Engineering (Hons) degrees along with a Graduate Diploma in Management and Economics of Natural Gas (Distinction). She brings over 30 years of industry experience to the table.

Ms Norman held several corporate finance and equity capital market positions during her time with Cazenove & Co. (now JP Morgan Cazenove) and Goldman Sachs. She returned to Australia to work at Santos Limited (ASX:STO), where she had top positions in corporate strategy, business development, and executive committee. Ms Norman oversaw important strategic projects for Santos and was instrumental in the company's expansion strategy, including the Oil Search Ltd (ASX:OSH) merger.

According to Jane Norman, Cooper Energy has a significant chance to capitalise on its strategic asset base as the Australian energy market makes its way through the energy transition.

Management Commentary

Talking about the new MD and CEO appointment, Mr John Conde, chairman of Cooper Energy, said:

Image Source: © 2022 Kalkine Media ®

Data Source: Company announcement dated 19 December 2022


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