He pulled back from executive duties in 2003 but maintained his directorship until recently.

A statement from Stuart said Hollingsworth in his role of director of operations had helped the company evolve from a successful tenderer for the release of South Australian Cooper Basin permits to being a successful explorer and producer of hydrocarbons.

“The board acknowledges Rod Hollingsworth’s contribution to the growth of Stuart and he carries the best wishes of his fellow directors and the staff of Stuart in his retirement.”