Brand continues as CEO at LNG Limited

Liquefied Natural Gas Limited said that the employment agreement for its current Managing Director and CEO, Maurice Brand has been extended to 30 June 2017.  

LNGL Chairman Richard Beresford said that whilst the company had made significant progress during 2014, it was very focussed on the delivery of several major goals in the short term to ensure that LNGL achieves Financial Close for Magnolia LNG in mid 2015 and that continuity was essential if these goals are to be achieved.  Maurice has been the driving force behind Magnolia and the company expects that this will continue as he builds a fully integrated team to execute Magnolia with the target of first LNG in 2018.

“The Directors are delighted with the company’s overall progress and that Maurice has agreed to continue until his planned retirement in 2017.  During this time the Directors will also be working with Maurice on a succession plan,” said Beresford.

Maurice said that he was looking forward to the next few years working with the Magnolia, Bear Head and LNGL corporate teams to meet the company’s growth objectives.

“It really is a very exciting time for all our shareholders and a privilege to continue to be able to work with an extremely talented and dedicated group of executives, management and staff who are all committed to continue delivering value for our shareholders,” said Brand.

Press Release, September 26, 2014; Image: LNG Limited