Tap Oil major shareholder Risco Energy Investments has notified the company of its intention to overhaul the company's board at the next planned annual meeting in February.
Tap Oil has appointed current independent non-executive director, James Menzies, as executive chair. Mr Menzies succeeds Doug Bailey, who will retire from the board.
Oil and gas play Tap Oil has confirmed James Menzies as its new chairman, after he joined the board in May as a director and was earmarked as Doug Bailey's successor.
Perth-based Tap Oil has settled its outstanding disputes with its second-largest shareholder, days before the matters were to hit the courts in Singapore.
Tap Oil says it expects to resolve outstanding disputes with a dissident shareholder after announcing a major restructure that will see the current chairman retire and three new directors join the board.
Former Gindalbie Metals managing director Tim Netscher is set to take the helm of gold miner St Barbara, when Colin Wise retires from the role as non-executive chairman next month.
Tap Oil shareholders have lodged a big protest vote, with more than 35 per cent of votes cast against three resolutions at today's annual meeting, with dissident shareholder Chatchai Yenbamroong accounting for a large share of the opposition.
Melbourne-based gold miner St Barbara has announced plans to appoint former Gindalbie Metals managing director Tim Netscher as chairman, as part of its ongoing board renewal.
Tap Oil managing director Troy Hayden has signed a new contract that offers lower cash income but more incentives linked to the company's share price performance.
