Karoon Energy CEO Julian Fowles is set to leave the company by mid-2026, following a decision announced at the annual meeting in May to relocate key corporate teams and roles from Melbourne to Brazil and the US. Karoon Energy is an oil and gas exploration and production company with activities in Australia and Brazil. The company is focused on growing its reserves and production through both organic activities and acquisitions.
The board, supported by an international search firm, has commenced a global search to appoint a Houston-based CEO to succeed Fowles. He will remain in his current role until a new CEO is appointed or the end of this year, whichever comes first. Following this, Fowles will serve a notice period through to mid-2026 to ensure continuity during the transition.
Karoon chairman Peter Botten stated that the decision to relocate key roles was carefully considered. “The Board expects that this change, which includes simplifying Karoon’s structure, will increase efficiency and facilitate collaboration between the business units in Brazil and the USA,” Botten said.
At 10.35am AEST, shares in Karoon were down 1.8 per cent. The planned leadership transition and corporate restructure come as the company focuses on optimising its global operations.
