LONDON (Alliance News) - Range Resources Ltd on Monday said that Chief Executive Officer Yan Liu resigned from the company's board with immediate effect to focus on other business interests.
The oil & gas company said it will consider a replacement for the CEO position. In the interim, Zhiwei Gu, who joined the board in 2015, will take on the role of executive chairman.
Meanwhile, the company's shares are still suspended from trading on the Australian Stock Exchange, as Range needs to appoint an additional Australian resident to the board to comply with the country's regulations which require two directors to be Australian residents.
"The recruitment process is underway and the board is considering suitable candidates," Range added.
Trading of the company's shares on the AIM market of the London Stock Exchange is not affected by the ASX suspension, and the shares are down 8.3% at 0.030 pence each on Monday.