Tullow Oil CEO Rahul Dhir to Step Down
West Africa-focused Tullow Oil, said on Thursday, December 5, 2024, that Chief Executive Officer Rahul Dhir, will step down and also resign from the board next year.
The board has initiated a process to find a successor for Mr Dhir, who was appointed as CEO in 2020.
Mr Dhir will stay in his role until a date has been determined to ensure a smooth transition, the company said.
Non-Executive Chairman of Tullow Oil, Phuthuma Nhleko, commenting on the exit of Mr Dhir from the company said, “I would like to thank Rahul for his hard work and dedication to Tullow. Since joining in 2020, Rahul has led a comprehensive turn-around and strategic reset of Tullow, focussed on the delivery of operational and financial performance, debt reduction and positioning the company for future growth.”
On his part, Mr Dhir quipped, “It’s been a privilege to serve Tullow during these past four and a half years. During this period, we have achieved a step change in our operating performance, cost structure, and capital discipline delivered over $1.1 billion in free cash flow, and reduced our net debt from $2.8 billion to c.$1.4 billion. I am also very proud of our team’s strong culture of ownership and commitment to business delivery. With a strong pan-African platform, Tullow is well-positioned as a trusted partner and responsible operator to deliver the next phase of growth.”
