Chairman of oil and gas company Cairn Energy has indicated that he will retire from the board of directors.
Cairn said on Thursday that its chairman Ian Tyler would retire from the board once a successor had been appointed.
Ian Tyler has served on the board of Cairn Energy for seven years, six of which as the chairman of the company.
According to Cairn, it will begin a comprehensive process to identify and appoint a successor and enable an orderly handover, in accordance with the Board’s existing succession planning.
Tyler has indicated his commitment to serve as chairman of the board of Cairn until such process is completed, which is anticipated to take place within the next twelve months.