Warren Resources, Inc. today announced that, effective immediately, the Board of Directors has appointed James A. Watt as President and Chief Executive Officer of the Company.
The Company expects that Mr. Watt will be named to the Board of Directors at the next meeting of the Board of Directors. Lance Peterson, who has served as Interim Chief Executive Officer since December 4, 2014, has stepped down from this role and will continue as a Director.
‘We are pleased to appoint Jim to the position of President and Chief Executive Officer and to have him lead our management team as the Company enters a new chapter,’ said Chairman of the Board Dominick D’Alleva. ‘The Board believes that Warren has outstanding assets and a dedicated and effective employee base and, with Jim’s record of leadership, we believe he is the right person to guide the Company through the current economy and take the Company to the next level.’
‘I look forward to working alongside the Warren Board and management team, and I believe that we are well positioned to continue deleveraging our balance sheet and to return the Company to a trajectory of growth that will enhance value for all of our stakeholders,’ said Mr. Watt.
Mr. D’Alleva continued, ‘The Board also wants to thank Lance for his service and looks forward to again working with him as a director.’
Source: Warren Resources
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