TAG chief financial officer Garth Johnson has accepted the position of chief executive at the Toronto-listed, New Zealand-focused company.

The board will be evaluating the company’s executive management needs and Cadenhead will remain with the company in a consulting role during a transition period to ensure an orderly hand-over, according to TAG.

Cadenhead, who joined the company in 2003, said he had enjoyed his time with TAG and felt the company had now established itself as an oil producer in New Zealand.

“The Cheal Production Facility, now fully completed and commissioned, will provide the Company with a good foundation for future activities,” Cadenhead said.

“Garth has been instrumental in managing the company for over 10 years and has extensive corporate and international oil and gas experience therefore I am confident that TAG is in good hands.”