Tullow Oil : Board Change

Tullow Oil plc announces that Les Wood, Chief Financial Officer (CFO) and Executive Director, has mutually agreed with the Board that he will step down from Tullow.

A search process to find a new CFO will be launched and is expected to conclude in the first quarter of 2022. Les will remain CFO and an Executive Director of Tullow throughout the current reporting cycle and is expected to leave the Group at the end of March 2022 following the publication of Tullow's 2021 Full Year Results.

Having joined Tullow in 2014 as the Group's Vice President for Commercial and Finance, Les was appointed interim CFO in January 2017 and was appointed to the Tullow Board as an Executive Director and CFO in June 2017.

Rahul Dhir, Chief Executive Officer, Tullow Oil plc, said:
'Les has been a great support to me since I joined Tullow and he has been integral to the Group's financial turnaround. In particular, Les led the Tullow team through the delivery of $1 billion of self-help and our transformational $1.8 billion bond offer in May this year which placed the company on far stronger financial footing and will allow our Business Plan to take effect. I am very grateful for all that he has done for Tullow and wish him well.'

Les Wood, Chief Financial Officer, Tullow Oil plc, said:
'Following our comprehensive refinancing earlier this year, the culmination of a number of steps to strengthen the Group, it is the right time for me to leave Tullow after 5 years as CFO. Despite the challenges we have faced over the past few years, I have always enjoyed working at Tullow, especially all the people I have met and worked with and I look forward to watching Rahul and the talented and dedicated team at Tullow executing on our ambitious strategy and Business Plan.'

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is being released on behalf of Tullow by Adam Holland, Company Secretary.