Po Valley Energy (ASX:PVE) Appoints Kevin Bailey AM as CEO
Executive Leadership Change
Po Valley Energy Limited (ASX: PVE) has appointed Mr Kevin Bailey AM, previously Chair of the Board, as the new Executive Chair and Chief Executive Officer, effective immediately. This leadership transition supports the company’s strategy for enhanced execution and long-term shareholder value.
Future Growth Plans
The company is set to increase operational activity and growth, with plans to potentially quadruple natural gas production in Italy. This follows the successful permitting of new wells in the Selva Malvezzi Production Concession in the Emilia Romagna Region.
Executive Comments
CEO Kevin Bailey said:
“As the largest shareholder of PVE owning 25 % of the company and as Chairman for the last 3 years I am highly aligned and motivated to fully dedicate myself to the success of PVE in this new role as CEO. Thanks to the talented team and Board we have assembled, PVE has never been better positioned in the history of the company. With a robust balance sheet with over 12 million AUD in cash and the company generating significant free cash flow each month, PVE is well positioned to look at potentially quadrupling our natural gas production in Italy following the successful permitting of our next set of wells in the Selva Malvezzi Production Concession in the Emilia Romagna Region of Italy.”
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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