Petro Matad reports the retirement of its Chief Financial Officer (CFO), Mr. Clyde Evans. Mr. Evans retired from his executive position, effective April 16th, but will remain on the Board of Directors as a Non-Executive Director.
In addition, Dr. James Coogan (Exploration Manager) has resigned, effective April 16th.
An international executive search was initiated to identify and appoint suitably qualified replacements for these two positions. In addition to stability, professional qualifications and experience, the Company placed an emphasis on identifying candidates with a record of transforming and renewing companies.
The process to appoint an Exploration Manager is almost complete. In the meantime, Chief Geophysicist Dr. Kurt Constenius is managing the Petro Matad exploration team.