KrisEnergy Ltd. announced that Keith Cameron, Chief Executive Officer, has notified the Boar of Directors of his retirement. Jeffery S. Macdonald, a Non-Executive Independent Director of the company since 2009, will take over as Interim Chief Executive Officer effective 1 July 2016 until a successor has been appointed. Mr. Cameron will continue as an advisor to Mr. Macdonald, who will become an Executive Director.

Mr. Macdonald was previously a Managing Director with private equity firm, First Reserve, with responsibility for investment origination, structuring, execution, monitoring and exit strategy, with particular emphasis on the oil and gas reserves sector. Prior to joining First Reserve, Mr. Macdonald was a founder and Chief Executive Officer of Caledonia Oil and Gas Limited and before Caledonia, he was a founding member and Managing Director of Energy Limited. He was also Managing Director and Chairman of Blackwatch Petroleum Services Ltd. His other experiences include Managing Director of Production Testing Services, primarily managing Russia and the Middle East, and as an engineer and project manager with Conoco Inc. in London, Dubai and Houston.

Mr. Macdonald will step down as Chairman of the Remuneration Committee, to be replaced by Duane Radtke as Interim Chairman. Mr. Macdonald will also resign from the Remuneration Committee and the Nomination Committee. A Transition Committee has been established to provide advisory support, guidance and oversight to the Interim Chief Executive Officer.

The Transition Committee will be chaired by Mr. Honeybourne and will comprise Mr. Macdonald, Chan Hon Chew, a Non-Executive Director, and Tan Ek Kia, a Non-Executive Independent Director. In addition, the Investment Committee has been dissolved.