Santos managing director Kevin Gallagher will dial back his external commitments and delegate some non-strategic functions under a flexible working arrangement approved by the board, so that he can support a family member’s medical treatment through to the end of the year.
The $24.6bn energy major said on Monday Mr Gallagher’s core role as managing director and chief executive, overseeing key growth initiatives and strategic imperatives, would continue as usual.
“However, over this period, he will step back from several external commitments and delegate some non-strategic day-to-day functions to members of the executive leadership team,’’ the company told the ASX.
“External commitments to be delegated will include participation in industry bodies, conferences and extended overseas or domestic travel.
“This will enable Mr Gallagher to spend more of his time in Adelaide to provide the flexibility to attend to family commitments and undertake his work between the office and home.’’
Santos chair Keith Spence said the board fully supported Mr Gallagher’s decision and had full confidence he would continue to execute his role effectively under these arrangements.
“Mr Gallagher has the full backing of the board to manage his time to enable him to be available to support his family through a period of intense medical treatment and, with the support of the executive leadership team, be able to continue to lead Santos,” Mr Spence said. “Mr Gallagher has a strong executive leadership team and I’d like to thank them for their support through taking on some additional responsibilities.”
Mr Gallagher, in addition to his role leading Santos, has been a regular speaker at industry events in recent years, strongly advocating for the oil and gas industry’s role in the energy transition and commenting on policy initiatives such as the federal government’s gas market interventions and the role of carbon capture and storage in reducing emissions intensity.
NAB weighs return to Scottish roots
The $1bn-plus sale process for the non-bank lender Scottish Pacific is yet to start in earnest, but there’s one party that has already been at least kicking the tyres.
Crown owner Blackstone fancied to snap up Star
There’s talk that the New York-based private equity firm is once again having some serious conversations in the background about taking over Star Entertainment.