(Alliance News) - Shares in Attis Oil & Gas Ltd fell sharply Thursday after Chief Executive Officer Charlie Wood resigned from the oil & gas firm with immediate effect.
Shares in Attis were 11% lower at 0.060 pence in London on Thursday.
Although Wood will stand down as CEO immediately, he will remain at the firm for a unspecified "short" transitional period. This will allow him to handover to Executive Chair Paolo Amoruso and Chief Operating Officer Thom Board.
It is not expected that Attis will replace Wood in the CEO role.
"The company would like to thank Mr Wood for his contribution to the company over the past 12 months as he has helped to advance the company through this challenging period; but understands that Mr Wood now wishes to concentrate on his other business interests," Attis said in a statement.
By Ahren Lester; ahrenlester@alliancenews.com
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