The company is now undertaking a worldwide search for a replacement, using an independent specialist search firm.
Mr Hosking said he was committed to steering Karoon through a “seamless” transition, but it was time to move on.
“After 16 years at the helm, and having transformed Karoon from an $8 million pure play exploration company in the onshore Gippsland Basin, to making offshore gas discoveries in the Browse Basin, reaching the ASX 200 index, developing a strong business in South America and finally leaving the business as an emerging production company with high quality organic growth options, I believe I am leaving Karoon in a strong position with an exciting future,” he said.
Karoon Chair Bruce Phillips said the company was indebted to Mr Hosking.
“Bob’s entrepreneurial skills, dealing capability and tenacity have been the driving forces in getting Karoon to where it is today,” he said.
For more information visit the Karoon Energy website.
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