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NGP managing director Frank Sakda Sreesangkom, former founder and CEO of Salamander Energy James Menzies and Energy Resources of Australia chair Peter Mansell have all been appointed directors of the company.
Managing director Troy Hayden had already announced his intention to depart on July 1 after almost six years, and Mike Sandy had decided to not stand for re-election at the company's annual general meeting on Friday, and yesterday Dr Doug Schwebel has also announced his departure.
Chairman Doug Bailey will head out the door once a further independent non-executive director and CEO have been appointed.
It will leave Tom Soulsby, the representative of Tap's second largest shareholder Risco Energy Investments, as Tap's longest serving director. He was appointed In January.
The board renewal means NGP has secured not only a clean sweep of the board it has been agitating for since early 2015, but the board seat it was denied in the recent $7.75 million rights issue, when it did not have to help underwrite the raising.
In a statement, Tap said the changes would "provide a more stable platform by which the company's board and management team can focus on creating value for the benefit of all shareholders".
Tap acknowledged there were still commercial and corporate disputes outstanding with NGP that have been festering for more than a year, but said it was confident that these conflicts "can be effectively managed within the confines of existing board conflicts of interest protocols".
Menzies, who is expected to take on the chairman's role once Baily departs, has extensive experience in the Asian exploration scene, particularly in Thailand, which is expected to be Tap's focus, from his time at Salamander, which was taken over by Ophir Energy last year.
Menzies's board will ultimately compose five directors, one each representing NGP and Risco and three independents. The new CEO is expected to be independent of NGP and Risco.
NGP has provided an undertaking that it has no intention of continuing to seek changes to the board.
