Coates to depart as Santos chairman

Peter Coates. Image: Glencore

Santos chairman Peter Coates has announced he intends to step down from his role at the Australian oil and gas company in the coming months.

Speaking at the company’s annual general meeting (AGM) today, Coates said the process of identifying his successor was already under way.

“While I am seeking your support for re-election today, I want to make it clear that it is my intention to step down from the board as soon as a smooth transition to a new chair is completed over the coming months,” Coates said.

Coates was first chairman at Santos from December 2009 to May 2013. He was then reappointed as chairman in April 2015.

He has also been a non-executive director at Glencore since January 2014, which followed two previous stints on the company’s board.