InterOil Appoints Michael Hession To Succeed Phil Mulacek As CEO - Update

(RTTNews) - Energy company InterOil Corp. (IOC) Thursday announced that it has appointed Michael Hession to succeed Phil Mulacek as chief executive officer, effective July 11, 2013.

In April end, InterOil had announced the retirement of its Founder and Chief Executive Officer, Phil Mulacek, effective April 30, 2013. At that time, the company has said that Mulacek will continue as its director and will provide advisory services.

Hession has over 25 years of experience in international exploration and operation. Most recently, he was senior vice president at Browse LNG Development, a division of Woodside Energy Ltd. (WPL.AX).

InterOil noted that during his twelve-year career at Woodside, he held various high-profile roles related to Pluto LNG Mega-Project and exploration and development of assets in North Africa and North America.

He began his career at BP International, and managed exploration projects in Indonesia, the United States and Norway.

Commenting on the appointment of Hession, Gaylen Byker, chairman and interim CEO of InterOil said, "...He brings a wealth of experience across multiple regions in both exploration and project development. Michael has strong commercial ties in the industry and has shown great skill in liaising with partners and governments on complex projects."

IOC closed Wednesday's regular trading at $68.15 on the NYSE.