Pennpetro (LSE:PPP) has appointed Grand Chief Ronald M. Derrickson as Non‑Executive Co‑Chairman, to sit alongside Executive Co‑Chairman Richard Spinks, who will remain in his current role.
Grand Chief Derrickson is Owner and President of RMD Group and a long‑standing Indigenous leader and entrepreneur in Canada and the US. He served as Chief of the Westbank First Nation from 1976–1986 and 1996–1998, and was elected unanimously Grand Chief for Life by the Union of BC Indian Chiefs in 2012. Pennpetro says Derrickson helped transform his community into one with an annual GDP of c.$1 billion and brings deep relationships where Indigenous involvement and resources intersect.
The appointment fulfils RMD Group’s right under the first convertible loan note announced on 25 September 2025 to place two directors on the board; Spinks was the first appointment. RMD Group holds convertible notes that can convert into 12.5m shares subject to shareholder approval.
"It is a real privilege to welcome Grand Chief Ronald Derrickson onto our Board, with his guidance and experience we have added great depth and capability to the Company's governance and opportunities unique to PPP amongst listed resource companies," Richard Spinks said.
"I would like to thank Richard and his team for their tireless efforts and support in the recent months," Grand Chief Ronald M. Derrickson added.
