Castlerea native Adrian Heavey will step down as chief executive officer of Tullow Oil in April.
He is set to become chairman for a two year period as the exploration group undergoes a change in leadership.
Heavey is one of Roscommon’s most successful native son’s.
Born in Castlerea and educated at Clongowes Wood College and UCD, he trained as an accountant before joining Aer Lingus and Tullow Engineering in 1981.
He went on to start Tullow Oil in 1985 building it through a series of acquisitions into a major international oil business.
According to a report on irishtimes.com, Tullow recently said it expects to deliver gross profit of $500 million (€473.5 million) in its upcoming full-year results for 2016 and $700 million of operating cash flow on $1.3 billion of revenue.
You can read the full Irish Times report here