Tullow Oil CEO Paul McDade resigns on poor African output
Technical difficulties have hampered output in Ghana, projects in Uganda and Kenya have faced delays, and results from wells in Guyana missed expectations
09 December 2019 - 17:58
London — Tullow Oil’s CEO Paul McDade and exploration director Angus McCoss quit after the company cut its production outlook and suspended the dividend, sending shares tumbling more than 60%.
McDade and McCoss resigned with immediate effect, marking the exit of Tullow’s old guard after founder Aidan Heavey departed in 2018. Both had been stalwarts at the company for over a decade, presiding over discoveries from West Africa to Guyana, but also a slew of recent operational setbacks...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.