The board of directors of Beach Energy have announced its new chief executive officer (CEO) Morne Engelbrecht. The company advised Engelbrecht displayed a strong performance as acting CEO, confirming with the board he was the ideal candidate.
Since Engelbrecht assumed the role of Acting CEO in November of 2021, he has overseen successful progress of Beach Energy’s major capital programs in the offshore Otway Basin and Perth Basin, which are being delivered safely, on schedule and on budget.
Engelbrecht started with Beach Energy in 2016 as chief financial officer and was instrumental in the transformational acquisition and subsequent integration of Lattice Energy. As a chartered accountant with more than 20 years of experience in the oil, gas, and resource sectors, Engelbrecht has extensive experience across strategy and planning, capital management, corporate and asset transactions, stakeholder engagement and operations.
He said he is honoured to be appointed CEO of Beach Energy and is passionate about the company, along with its proud history spanning over 60 years.
“I am passionate about the company and the role we play in supplying much needed oil and gas to support society’s ongoing energy needs,” Engelbrecht says.
“I am excited to be part of its future. I look forward to continuing engagement with our investors and stakeholders as we deliver our growth strategy”.
The short-term incentives for Engelbrecht as CEO are to participate in the annual cash and equity-based incentive plan, measuring the individual and company performance over a 12-month period matching Beach Energy’s financial year.
The long-term incentives Engelbrecht will handle is the performance of the company measured over a three-year period, benchmarked against a group of companies.