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    CFO Picked for Premier-Chrysaor Tie-up

Summary

Premier's shareholders recently voted overwhelmingly in favour of the merger.

by: Joe Murphy

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CFO Picked for Premier-Chrysaor Tie-up

Alexander Krane has been appointed as the CFO of the new company due to be formed from the merger of Premier Oil and Chrysaor, the North Sea producers reported on January 25.

Krane will replace Richard Rose, currently Premier's interim CEO and finance director, once the merger is completed or on April 15 if the transaction is closed before that date. Krane has worked in the industry for 20 years, previously heading finance at Norwegian firms Det Norske and Aker BP.

The new entity will be called Harbour Energy, taking the name of Chrysaor's largest shareholder. Its board will have 11 directors, with current Harbour boss serving as its CEO and Chrysaor CEO Phil Kirk working as its president. Premier shareholders earlier this month voted overwhelmingly in favour of the deal, due to close in this quarter.