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Laredo Petroleum Announces Board Management Changes

Gasoil News - Published on Fri, 04 Oct 2019

Image Source: oilandgas360.com
Laredo Petroleum Inc announced as part of the previously discussed comprehensive succession planning process that Mr Jason Pigott will succeed Randy A Foutch as the Company's Chief Executive Officer, effective October 1, 2019. Mr Pigott will continue in his role as President. Mr Foutch will remain Chairman of Laredo's Board of Directors through the Company's 2020 Annual Meeting, but will not stand for re-election to the Board. Additionally, the Board has decided the roles of Chairman and Chief Executive Officer will remain separate and the future Chairman will be independent.

Mr Pigott said that "I would like to thank Randy for his counsel over the last four months as I have immersed myself in Laredo's operations and strategy. As we move the Company forward to create value for our shareholders, we are focused on leveraging our core strengths to grow oil production and free cash flow. We will continue to drive costs out of our already highly competitive cost structure and will opportunistically add acreage to improve well economics and margins. Strategy, teamwork and technology will change the trajectory of Laredo and I look forward to sharing our successes in the future."

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Posted By : Rabi Wangkhem on Fri, 04 Oct 2019
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