Pharos Energy plc announced the appointment of John Martin as Chair of the Board of Directors with effect from 13 March 2020. John Martin was appointed as an Independent non-executive Director on 7 June 2018. John has more than 30 years' experience in international banking in the oil and gas industry and, was a Senior Managing Director in the Oil and Gas team at Standard Chartered Bank. On becoming Chair, John will resign from the Audit and Risk Committee and Remuneration Committee. John will remain Chair of the ESG Committee, and will serve as Chair of the Nominations Committee replacing the current Chair, Rui de Sousa, in that role. Rui de Sousa will also retire from the Board on 13 March 2020. This appointment comes after a process, using Korn Ferry as search consultants, to identify a successor to Rui de Sousa who has previously indicated his intention to retire. Rob Gray, the Deputy Chairman and senior Independent Director recused himself from consideration as Chair and led the process with Korn Ferry. The search for a new Chair of the Audit and Risk Committee to replace John has commenced, again led by Korn Ferry. Antony Maris, Chief Operating Officer, will also step down at the end of the year after 15 years of service.