Capricorn Energy CFO Smith to stay on temporarily after board exit

LONDON, Feb 3 (Reuters) - James Smith, who resigned from Capricorn Energy's (CNE.L) board this week amid shareholder pressure over the firm's merger plans, will continue as chief financial officer on a transitional basis, a spokesperson said on Friday.

In a big win for activist investor Palliser, Capricorn shareholders on Wednesday voted in favour of six new directors it had proposed, with the new board set to conduct a strategic review of Capricorn's businesses.

Seven out of nine directors, including the chair, chief executive Simon Thomson and Smith had resigned from the board in the preceding days. Chris Cox, one of Palliser's board nominees, has become interim chief executive.

Shareholders will vote on Feb. 22 on a merger plan with Israeli gas firm NewMed (NWMDp.TA), which was recommended by the former board. Capricorn's biggest shareholders and major proxy advisers have already come out against the deal.

The spokesperson declined to comment on how long Smith might continue as finance chief.

Reporting by Shadia Nasralla. Editing by Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.