Australian biggest LNG firm Woodside said Tuesday that chief executive Peter Coleman will retire in the second half next year after serving more than ten years as the head of the company.
Woodside has launched an internal and external search for the company’s next CEO.
Coleman said it is the right time to retire and transition leadership, with the company “well-positioned” for the future.
“In this challenging year, Woodside has taken the prudent decisions needed to maintain safe and reliable operations and protect our growth plans, while setting up our company for the next phase.
Woodside Chairman Richard Goyder praised Coleman’s leadership saying he had been an “outstanding CEO”.
“His commitment to prudent capital management and maintaining a strong balance sheet and liquidity has complemented his track-record for operational excellence,” Goyder said.
Coleman added he was proud of what the Woodside team had delivered in the past ten years.
“Retiring in 2021 ensures continuity to support the Scarborough investment decision, which will transform Woodside, while ensuring our international projects in Senegal and Myanmar maintain their positive momentum,” Coleman said.
“I will miss being part of the Woodside team. The company has been reset with a strong platform for the future, with the next stage of our journey ready for a new CEO to take the required ownership of Woodside’s significant growth projects,” he said.