Tullow Oil (LSE:TLW) has added four independent non‑executive directors to its board as part of a reshuffle tied to its refinancing transaction.
Henry Steel joins immediately on 8 April 2026; Garrett Soden, Euan Shirlaw and James Peterkin will take their seats on 1 May 2026, conditional on the refinancing completing on 24 April. All four will be subject to election at the annual general meeting in June, the company said.
Henry Steel is a long‑time natural resources investor and co‑founder and Chief Investment Officer of Globe12, established in 2024. He spent eight years at Odey Asset Management as Fund Manager of the Odey Concentrated Natural Resources Fund and began his career at Rio Tinto, where he served as Special Adviser to the Head of Business Development on M&A, strategy and project finance. Steel has been named Senior Independent Director.
Garrett Soden is President and Chief Executive Officer of ShaMaran Petroleum Corp., and brings almost 20 years’ experience working with the Lundin Group and in senior roles across oil and gas M&A, turnarounds and restructurings. His past roles include Chairman and CEO of Africa Energy Corp and non‑executive positions at Panoro Energy, Gulf Keystone Petroleum and Phoenix Global Resources. Soden is slated to chair the Audit Committee once his appointment is effective.
Euan Shirlaw is CEO of Oslo‑listed BlueNord ASA, joining the company in 2019 as CFO after it acquired Shell’s Danish upstream assets and becoming CEO in 2021. He has overseen multiple debt raises, refinancings and amendments totalling several billion dollars and spent over a decade in oil and gas investment banking at Rothschild, RBC Capital Markets, Credit Suisse and BMO. Shirlaw will join the Remuneration Committee and chair the board’s M&A Committee.
James Peterkin is CEO of Kirk Lovegrove & Co Ltd and a veteran of more than 30 years in energy investment banking. His past roles include Head of EMEA Energy Investment Banking at Credit Suisse International and Co‑Head of EMEA Oil & Gas at Barclays, with earlier senior positions at Citigroup and Schroders. He will serve on the M&A Committee.
Roald Goethe has taken interim committee roles until the new INEDs formally join the board: he will act as interim Chair of the Audit Committee and serve on the Remuneration Committee until Garrett Soden and Euan Shirlaw are appointed, at which point he will step down from those committees.
"I would like to welcome Henry, Garrett, Euan and James to the Board. Their appointments will strengthen our governance framework and bring extensive E&P operational and capital markets expertise, which will be of significant value as Tullow executes its business plan and focuses on delivering value to our stakeholders," Roald Goethe said.
