InterOil (IOC) Appoints Former PNG Prime Minister Namaliu and Fuller Foundation CIO Delcamp to Board

July 2, 2012 6:53 AM EDT
InterOil Corporation (NYSE: IOC) has approved the addition of two members. Sir Rabbie Namaliu, the former Prime Minister of Papua New Guinea, and Samuel Delcamp, former Executive Director and Chief Investment Officer of the Fuller Foundation, have both joined the Board. In keeping with good corporate governance practices, the Board also decided to separate the roles of Chairman and Chief Executive Officer. Dr. Gaylen Byker was appointed Chairman of the Board. Phil Mulacek will continue as Chief Executive Officer.

In addition to serving as Papua New Guinea Prime Minister from 1988 until 1992, Sir Rabbie served as Speaker of the National Parliament between 1994 and 1997. Prior to this, Sir Rabbie was Minister for Foreign Affairs and Trade from 1982 until 1984 and has held several other senior government posts since his first election to parliament in 1982. An independent Non-Executive Director of Perth-based Marengo Mining Limited, Sir Rabbie has also been Chairman of the Board of directors of the publicly listed investment firm Kina Asset Management Ltd. since 2008. He is also a member of the PNG Institute of Directors. Sir Rabbie has chaired InterOil's PNG Advisory Committee since August, 2011.

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