The production vessel used on the Lancaster field West of Shetland Picture: Hurricane Energy
EMBATTLED Shetland oil pioneer Hurricane Energy has parted company with its chairman and four directors after facing a boardroom coup attempt led by a dissident investor.
The company said yesterday that Steve McTiernan had resigned as chairman along with all four non-executive directors with immediate effect.
The resignations came after Hurricane proposed to complete a restructuring that would leave bondholders in control of the firm, and which has been denounced by shareholders.
Crystal Amber Fund called an extraordinary general meeting at which it wanted shareholders to vote Mr McTiernan and the four non-executives off the board and two replacements appointed.