Advance Energy PLC (AIM:ADV) (Advance Energy PLC (AIM:ADV)) new CEO Larry Bottomley presents new cost-cutting programme aimed at slashing its costs base by 50%.
This followed the announcement chief executive Leslie Peterkin is leaving the company following the unsuccessful Buffalo well, offshore Timor-Leste, and the more than 90% drop in share price that followed.
Former Chariot Oil & Gas boss Bottomley will step up from his non-executive director position to be Advance Energy’s new interim chief executive.