e5711955-df81-4553-b143-ccec498847ca.pdf
ASX Announcement
26 July 2016
Level 9, 301 Coronation Drive, Milton QLD 4064 Australia
PO Box 2118, Toowong DC QLD 4066 Australia
phone + 61 (0) 7 3156 7777
fax + 61 (0) 7 3156 7776
www.carbonenergy.com.au
Carbon Energy Limited ABN 56 057 552 137
Carbon Energy (Operations) Pty Ltd ABN 61 105 176 967
APPOINTMENT OF INTERIM EXECUTIVE CHAIRMAN
The Board of Carbon Energy Energy (ASX: CNX, OTCQX: CNXAY) is pleased to announce that Dr. Chris Rawlings will be appointed as Interim Executive Chairman of the Company from 15 August 2016, whilst the Company continues its search for a permanent Chief Executive Officer and Managing Director candidate for the position.
The executive search for a permanent replacement to the position of Chief Executive Officer and Managing Director is well advanced.
Dr. Rawlings said "We have an experienced senior management team and Board, who will work with me to manage the business until the right candidate is appointed. As far as our shareholders and stakeholders are concerned it will be business as usual at Carbon Energy."
For and on behalf of the Board.
Summary of key terms: Appointment:
The appointment is to the position of Interim Executive Chairman of Carbon Energy Limited.
Term:
Dr. Rawlings will commence in the position on 15 August 2016 until two weeks after the start date of the newly appointed Chief Executive Officer and Managing Director.
Remuneration:
Total Fixed Remuneration: Dr. Rawlings will be paid a fixed cash remuneration in the form of a Total Fixed Remuneration (TFR) package (inclusive of super) of $295,651 per annum during the period.
Termination:
The employment agreement will be terminated two weeks after the start date of the newly appointed Chief Executive Officer & Managing Director. Upon termination Dr. Rawlings will revert back to Non-executive Chairman on the same terms and conditions prior to his appointment as Interim Executive Chairman.
ENDS
2
www.carbonenergy.com.au