James Smith, who resigned from Capricorn Energy's board this week amid shareholder pressure over the firm's merger plans, will continue as CFO on a transitional basis, a spokesperson said on Feb. 3.
In a big win for activist investor Palliser, Capricorn shareholders on Feb. 1 voted in favour of six new directors it had proposed, with the new board set to conduct a strategic review of Capricorn's businesses.
Capricorn Announces Board Changes, Adjourns Meeting on NewMed Energy LP Combination
Seven out of nine directors, including the chair, CEO Simon Thomson and Smith had resigned from the board in the preceding days. Chris Cox, one of Palliser's board nominees, has become interim CEO.
Shareholders will vote on Feb. 22 on a merger plan with Israeli gas firm NewMed, which was recommended by the former board. Capricorn's biggest shareholders and major proxy advisers have already come out against the deal.
The spokesperson declined to comment on how long Smith might continue as finance chief.
Energy Transition in Motion (Week of Feb. 17, 2023): Advancing Projects, Investment
2023-02-17 - Here’s a look at some of this week’s renewable energy news, including technology agreements for a large-scale hydrogen plant being developed by Exxon Mobil.
Energy Transition in Motion (Week of Jan. 13, 2023): Advancing Projects, Investment
2023-01-13 - Here’s a look at some of this week’s renewable energy news, including the start of construction for solar projects in Texas and South Dakota.
Energy Transition in Motion (Week of Jan. 6, 2023): Advancing Projects, Investment
2023-01-08 - Here’s a look at some of this week’s renewable energy news.
Like? BP Solar Plant Underway in Ohio Would Help Power Facebook
2023-01-10 - The British major said it has secured a power purchase agreement with Facebook parent Meta for energy produced at the new solar plant.
Tech Giants Leading Clean Energy Movement
2023-01-25 - A combined 326 companies—led by tech giants Amazon, Meta and Google—contracted 77 gigawatts (GW) of clean energy at year-end 2022, according to a recent report by the American Clean Power Association (ACP).