Australia’s oil and gas company Karoon Energy is on the lookout for a new Chief Executive Officer (CEO) and Managing Director (MD), who will take over from its current CEO/MD next year, as the firm prepares to shift its key corporate teams and roles to Brazil and the United States of America (USA).
While disclosing the departure of Dr. Julian Fowles , Karoon’s outgoing CEO and Managing Director, the company confirmed that Fowles will be leaving by mid-2026, following a decision to relocate key corporate teams and roles to Brazil and the U.S., as mentioned at the 2025 Annual General Meeting in May 2025.
Peter Botten , Karoon’s Chair, commented: “Following discussions with the board, Julian will not be relocating as part of the planned transition of key corporate roles, including senior management, from Melbourne to Brazil and the USA. The decision to relocate these roles has not been taken lightly. The board expects that this change, which includes simplifying Karoon’s structure, will increase efficiency and facilitate collaboration between the business units in Brazil and the USA.
“It will also reduce duplication and allow the company to source high quality, local talent in our operational locations. The relocation of our corporate teams and roles, which has been carefully planned, will be phased over a period of 12 – 18 months to ensure that a meticulous handover of roles and responsibilities can be undertaken.”
According to Botten, Dr. Fowles, who joined Karoon in 2020, played a vital role in developing and delivering the firm’s 2021 Strategic Plan, which entailed the Baúna intervention campaign, the Patola field development, the Who Dat asset purchase, and the FPSO Baúna acquisition. In addition, the outgoing CEO helped shape the firm for its next phase of growth, including the potential developments of Neon in Brazil and Who Dat East and South in America.
Dr. Fowles stated: “Over the past five years, the company has transformed from a wildcat explorer to a low cost production and development company with a strong balance sheet and exposure to two of the most prolific hydrocarbon basins in the world.
“There have been challenges, but we have adjusted our strategy in response to market conditions, resulting in a company with a strong production platform and several highly attractive and material organic growth opportunities.”
The Australian firm claims that its board, supported by an international search firm, is leading a global search process to appoint a Houston-based CEO/MD to succeed Dr. Fowles, who will remain in this role until the appointment of the new CEO/MD or the end of 2025, when he will serve a notice period through to mid-2026 to provide continuity, if required.