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Linc Energy announces management and board changes

LINC Energy announced a slew of changes to its management and board on Wednesday, including a new role for its long-standing CEO.

The company has appointed 44-year-old Craig Ricato as its new managing director and CEO to replace Peter Bond, who has taken up the position of executive chairman.

Mr Ricato is not new to Linc, having been a director of the company since Oct 2010. Prior to that he was company secretary and general counsel from 2008. Before joining the company, the Australian resident was a solicitor in private practice.

He will be supported by Michael Mapp as the new chief operating officer.

The 52-year-old Mr Bond will be responsible for leading the board and the company in its relationship with shareholders, financial institutions and major customers, and positioning Linc for expansion. He had been managing director and CEO since Oct 2004.

The company's outgoing chairman, Ken Dark, will remain on the board as a non-executive director.

These executive and board changes are effective immediately.