Europa Oil & Gas (Holdings) plc independent non-executive director (NED) William Ahlefeldt is to retire with immediate effect.
Mr Ahlefeldt, who began his career in 1982 as a petroleum engineer with Maersk, has been a director of Europa since 2004.
He was instrumental in bringing Europa to the AIM Market of the LSE in 2004 and remains one of the company’s largest shareholders.
He provided technical leadership on the board as well as “significant financial support to the company on several occasions”.
“It has been an honour to sit on the board of Europa and be part of the company from its initial flotation on AIM through to the success of the Wressle field,” said William Ahlefeldt.
“I have great faith in the new executive management team and intend to remain a loyal shareholder.”
Chairman Brian O’Cathain added: “I would like to thank William for his many years of loyal service and invaluable contribution to Europa.
“William has been a valued member of the board, and we wish him every success in the future.”
Following Mr Ahlefeldt’s retirement, the Europa’s board will comprise two executive directors and three non-executive directors.
The company said that the composition of the board provided a well-balanced commercial, technical and financial skill and that there was no intention to replace Mr Ahlefeldt at this time.