Embattled oil firm Afren has confirmed speculation that Alan Linn is the anointed one, saying he will become chief executive and concluding a six-month search.
Shares in the Aim-listed company shot up seven per cent as investors were buoyed by the news, which signals a return to less choppy waters.
Afren said Linn, formerly the boss of Australian Roc Oil, is already acting as a consultant for the firm and will take over at the top once the company's refinancing is complete – something expected "imminently", it added.
On top of its financial restructuring, the new blood is likely to be seen as a line in the sand, enabling Afren to move on from its troubles which began late last year.
Linn succeeds Osman Shahenshah, who was fired in October along with several executives after evidence of fraudulent payments emerged.