Yaru Is New KPHL Chairman
Kumul Petroleum Holdings Limited has appointed Dr Benedict Thomas Yaru as its chairman.
Dr Yaru replaces former chairman Andrew Baing who served on the board since April 2019.
The power to appoint, and revoke appointments of the Board of Directors is vested in the Kumul Trustee (Trustee) pursuant to the Kumul Petroleum Holdings Authorization Act 2015 (‘the Act’).
The Trustee, in accordance with the act is the person, who, in accordance with section 142 of the Constitution occupies the Office of the Prime Minister, at any given time.
Dr Yaru’s elevation to board chairman was made effective as of May 11, 2020, replacing Mr Baing.
The change means Mr Baing, whose appointment was revoked on April 28, 2020, ceases to be chairman nor a director of the board.
Kumul Petroleum managing director Wapu Sonk said: “On behalf of the Board and Management of Kumul Petroleum, I would like to convey our appreciation to Andrew Baing for his leadership and also congratulate Dr Yaru on his appointment.”
“Kumul Petroleum is fortunate to have the expertise of an established leader such as Dr Yaru, who as a founding board member, brings a wealth of knowledge, and skill that is invaluable to the company; and as we manoeuvre through unprecedented times, given recent global challenges that have led to the sharp decline in oil and LNG prices, look forward to his continued leadership, and involvement within the board.”
Dr Yaru has over 30 years of experience with a variety of challenging responsibilities in operational general management, and consultancy in the petroleum and mining sectors.
He holds a Doctor of Philosophy (PhD) in Environmental Biology from the University of Technology in Sydney, Australia.
For over six years, Dr Yaru was associate professor (adjunct) at the Institute of Applied Ecology, University of Canberra, Australia.
Dr Yaru joined the Kumul Petroleum board in 2013 when it was then known as the National Petroleum Company of Papua New Guinea.