Tower Resources plc, the AIM listed oil exploration and production company with licence interests in Uganda and Namibia, announces that Russell Langusch has stepped down as an Executive Director of the Company. Peter Kingston, currently non-executive Chairman has been appointed Executive Chairman with immediate effect. To ensure a smooth transition Russell will remain as a non-executive director until 1 February at which point he will leave the board.
Tower Resources’ Executive Chairman, Peter Kingston, commented:
"We are extremely grateful to Russell for his time and assistance during the formative stages of Tower Resources. We wish him well with his other business interests."
Russell Langusch said:
"Given the changing management requirements of Tower as the Company adopts a more operational role in Uganda and the ongoing demands of my position at Elixir Petroleum, I feel that I am unable to commit my time adequately between these two directorships."