Mark Steed, currently a non-executive director, will replace Scutt. Oracle noted that it intends to appoint a permanent chairman following financial close, at which point the board will further consider its composition to meet the challenges going forward.
Scutt remains a non-executive Director and resumes his role as Senior Independent Director.
The board has thanked Scutt for his valued service as Interim Chairman and looks forward to his continued contribution as a Director.
The Board further welcomed Steed as Interim Chairman and looks forward to working together with him in the coming months through to financial close of Thar Block VI.
