Ithaca Energy CEO Steps Down; Thomas Named As Replacement

LONDON (Alliance News) - Ithaca Energy Inc. Friday said Chief Executive Officer Iain McKendrick is ceasing active employment for personal reasons.

The North Sea oil and gas producer said McKendrick will be replaced by Les Thomas, formerly an executive director at John Wood Group PLC in October 2013.

McKendrick has worked as Ithaca's CEO since December 2008 and helped grow the company from a market cap of under USD40 million to over USD700 million today.

Ithaca shares were flat at 152.00 pence Friday.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1

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