Oil firm Dana Petroleum confirmed this morning that its chief executive had retired from the role.
Roy Elliot held the top position at Korean-owned Dana for four and a half years.
He has worked in the oil and gas industry for more than 35 years.
A spokesman for the Aberdeen-headquartered firm said Mr Elliot would remain on Dana’s board as independent, non-executive director, which is a part-time position.
The spokesman said chief strategy officer Yongjoon Park had taken up the mantle of acting CEO.
He said: “I can confirm Roy Elliot retired from Dana at the end of last year after four and a half years in post.
“Mr Yongjoon Park is now acting CEO and a permanent replacement will be appointed in due course.
“Mr Elliot will continue his association with the company by serving as independent non executive director on Dana’s board of directors.”
Highlights from Mr Elliot’s time in charge of Dana, which was acquired by Korea National Oil Corporation (KNOC) in 2010, included first oil from the flagship Western Isles project in November 2017.
The £1.5 billion project was sanctioned by the UK energy department in 2012, at which time first oil was slated for 2015.
The original budget was around £1.2billion.
Mr Elliot took over the running of Dana on an interim basis in 2014, replacing Graham Scotton.
Mr Elliot previously served as an HR manager at KNOC, before being parachuted into Dana at a time of upheaval for the firm.
A number of the firm’s managing directors were ousted from the company in mid-2014, including Paul Griffin, chief of UK operations, Netherlands boss Nick Dancer, head of Egypt Paul Barnett and John Downey, boss of Africa.
More to follow.