Global Energy Ventures announced management changes, appoints Martin Carolan as CEO.
Global Energy Ventures Ltd (ASX: GEV) (“GEV” or “the Company”) is pleased to announce the appointment of Martin Carolan as Managing Director and Chief Executive Officer from 1 June 2021, following Executive Chairman and CEO Maurice Brand’s decision to step down as CEO. Mr Brand will move to the role of Non-Executive Chairman.
In light of Mr Brand’s decision, the Board is taking the opportunity to separate the role of Chairman and CEO in line with ASX guidelines and in preparation for the longer-term growth of GEV.
Mr Carolan, an experienced finance executive and corporate adviser, has been an Executive Director of GEV since February 2019 and has been leading its hydrogen development strategy. The Terms of Mr Carolan’s appointment are set out on attachment A.
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GEV Chairman Maurice Brand commented: “I am delighted with the appointment of Martin Carolan. Martin joined GEV more than two years ago as Executive Director, Corporate and Finance so has a deep understanding of the Company’s business model and has also been leading GEV’s entry into the development of a Compressed Hydrogen (CH2) ship and supply chain based on our experience in Compressed Natural Gas and its technical and shipping team which has more than 25 years’ experience in the industry. As the largest shareholder of GEV, I intend to maintain my holding.”
Incoming Managing Director and CEO Martin Carolan said:
I am looking forward to continuing my involvement with GEV as Managing Director and CEO which first started as an advisor and shareholder in 2016 and then as an Executive Director in 2019 working with Maurice Brand and Garry Triglavcanin, GEV Executive Director and Chief Development Officer.
“The role of CNG Optimum to transport natural gas remains a viable and commercial business model for GEV to continue with commercialisation.”
“More recently, the global interest in our unique application of compression in hydrogen shipping continues to grow and as a shareholder and now Managing Director, it is a very exciting time to be involved with the Company. In the last 12 months the global acceptance of a reduction in emissions required by heavy emitting industries will create new demand for green energy solutions. GEV is at the forefront as an energy transition company, developing solutions across the full value chain of future fuels. This will include the production, storage and shipping of green hydrogen.”
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In addition, the Company is pleased to advise it has appointed Garry Triglavcanin as Chief Development Officer for a further three years from 1 June 2021. Mr Triglavcanin has been with GEV since 2016 and is performing an integral role in the development of the C-H2 supply chain, whilst also taking responsibility for the CNG Optimum business development activities. The terms of Mr Triglavcanin’s appointment are set out in attachment A.
GEV has appointed Emma Connor as Chief Financial Officer (CFO). Ms Connor has been working with GEV since July 2019 as Financial Controller and will assume the role of CFO from 1 June 2021.
MANAGEMENT CHANGES, 28 May 2021
