African Petroleum appoints new chief executive

African Petroleum Corporation has named Stuart Lake as chief executive, replacing Karl Thompson, who stepped down on 1 February. Lake was most recently vice president of exploration at Hess, and previously spent 19 years with Royal Dutch Shell. African Petroleum reorganised its board last year, removing Frank Timis from the role of non-executive chairman as part of preparations for moving the company’s listing to the main Australian Stock Exchange from the smaller National Stock Exchange. Timis has assumed the role of president of the executive committee, formed to implement board strategy and to exercise the executive powers of the company.