InterOil Names Gaylen Byker Chairman; Adds Two New Directors

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7/2/2012 7:48 AM ET

Energy company InterOil Corp. (IOC: Quote) named Monday Gaylen Byker as the new chairman of the board as it separated the roles of chairman and chief executive officer. Meanwhile, Phil Mulacek will continue in his role as CEO. Mulacek held the dual positions of chairman and CEO since 1997

Byker has been om InterOil's board since 1997. He has held several roles since then, including being lead independent director, and chair of the Board's Compensation, Nominating and Governance committees. Byker retired from his role as the president of Calvin College to take up the new role as chairman.

The Cairns, Australia-based company also said it has appointed Sir Rabbie Namaliu and Samuel Delcamp as two new additional directors. Namaliu is the former Prime Minister of Papua New Guinea, while Samuel Delcamp is the former executive director and chief investment officer of the Fuller Foundation.

Before being prime minister from 1988 to 1992, Namaliu has held several other senior government posts since his first election to parliament in 1982. Namaliu has also chaired InterOil's PNG Advisory Committee since August, 2011.

Meanwhile, Delcamp joins the board with more than 40 years of investment experience. He has also served as director and president of MBM Partners, Inc.

IOC closed Friday's regular trading session at $69.70, up $0.30 on a volume of 0.42 million shares.

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