Baron Oil PLC on Tuesday said it has appointed Gerry Aherne, bringing with him ‘a wealth of career experience in insurance and financial markets’.

The London-based oil and gas exploration and appraisal company said Aherne replaces John Wakefield, who stepped down earlier this week.

‘Gerry Aherne has a wealth of career experience in insurance and financial markets, having been a founding director of PRI Group PLC, a directors’ and officers’ liability insurer, and having held non-executive directorships with Henderson Group PLC, Mecom Group PLC, Omnis Investments Ltd and Iveagh Ltd,’ Baron Oil said.

Baron Oil noted Aherne was investment director at Schroder Investment Management for 16 years, managing pension funds and unit trusts. He is currently Managing Partner of Javelin Capital Partners LLP.

Baron Oil named Rob Collins as chief financial officer, a non-board role.

Collins has over 20 years experience in natural resources corporate finance. His most recent post was as CFO of Victoria Oil & Gas PLC.

Chief Executive Officer Andy Butler said his appointment was ‘great news’, adding that he ‘brings a wealth of expertise in financing of natural resources projects’.

Shares in Baron Oil ended down 1.5% at 0.066 pence each in London on Tuesday afternoon.

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