Galp announced, this Monday, that the current CEO of the company, Andy Brown, will leave the post at the end of the year. His mandate expires on December 31.

O press release by Galp indicates that it was Andy Brown who warned the company of his decision.

He held the position in 2019, and says he had accepted the challenge "with the goal of preparing the Company for a successful future in challenging times for the industry."

"During my time as CEO, I was dedicated to fulfilling our goal -Let's regenerate the future together - by transforming Galp into a more open, dynamic and profitable company, adapting to the cleaner energies of the future," Brown was quoted as saying in the statement, which gives no details about the circumstances that dictated his departure.

In February 2021, when he started as CEO, the British manager bought 25,323 Galp shares, an investment of more than 240,000 euros.

Generally, bond purchases by company managers are intended to give a sign of confidence to investors regarding the company's future.

Galp promises to announce the new CEO before the end of the year.