LONDON (Alliance News) - Shares dropped in Range Resources Ltd on Monday after it said Chief Financial Officer Nick Beattie will resign from the company with effect on April 1 to "pursue other career opportunities".
Shares in the oil and gas services company, which produces in Trinidad, fell as much as 29% to 0.025 pence on Monday and were down 14% to 0.030p in morning trade.
Beattie has been in his role for five years since 2014, and prior to that was part of French banking group BNP Paribas SA for seven years from 2007 to 2014, leaving as managing director of the Upstream Oil & Gas division.
Range Resources said it is considering a successor for the role, and in the meantime has appointed Financial Controller Theo Eleftheriades as acting chief financial officer.
"On behalf of the board, I would like to thank Nick for his very significant contribution to the company and hard work over the last 5 years. He has been a valued member of the senior management team and we wish him every success in the future," said Executive Chairman Kerry Gu.