Beach Energy chair Glenn Davis to retire

The news: Beach Energy says its chairman Glenn Davis will retire at its annual meeting on 14 November, with Ryan Stokes to take on the role as interim chair.

The numbers: Mr Davis has served as a director on Beach’s board since 2007 and has been chairman since 2012. He had indicated his impending departure last year and on Thursday said the moment is now right to retire and allow for appropriate board renewal.

The context: Beach Energy said it has identified a preferred candidate for a replacement and is in advanced talks as that person works “through timing issues before they become available to join the Beach board". Mr Stokes, who is managing director of 30% shareholder Seven Group, will be interim chair until the preferred candidate becomes available.