New chairman for Santos

Santos chairman Peter Coates has stepped down from his role at the oil and gas giant, with non-executive director Ken Borda set to take up the new position.

In a statement Santos said Coates will retire at the company's annual general meeting on May 9, but will stay on as a non-executive director to ensure a smooth transition.

 

Along with his role as Santos chairman, Coates was previously a non-executive director of Glencore International, and has accepted a full-time position in the newly merged Glencore/Xstrata Group.

 

Borda has been a non-executive director at Santos since 2007, and previously spent 17 years at Deutsche Bank, where he rose to become CEO of the company's Middle East and North Africa operations.

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