(Alliance News) - Cabot Energy PLC said Friday that David Kimery has been appointed as chief executive officer of Cabot Energy Inc, its Canadian subsidiary, with immediate effect.
The oil and gas exploration firm said Kimery will succeed Paul Lafferty, who is stepping down as president and director with immediate effect.
Kimery will take over Lafferty's responsibilities as chief executive officer but will not be appointed to the board, Cabot Energy said.
The company said Kimery is an exploration and production executive with a broad range of experience in Alberta, Canada, and internationally. He has been chief operating officer at the Canadian subsidiary since the end of September.
Independent Interim Chair James Dewar said: "His knowledge and insights gained from his experience in technical and operational leadership roles at Weatherford, Seven Energy and Verano Energy will be complementary to our current management team."
Cabot Energy shares were down 11% tin London to 1.78 pence each on Friday afternoon.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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