Sept 27 (Reuters) - North Sea oil and gas operator IthacaEnergy Inc said Chief Executive Iain McKendrickwas stepping down due to personal reasons, sending its sharesdown as much as nine percent.
Ithaca said McKendrick will be replaced by Les Thomas, aformer executive at energy services company John Wood Group.
Thomas, who also headed Marathon Oil Corp's Europeanupstream business, will take charge on Oct. 1.
McKendrick, who oversaw Ithaca's acquisition of ValiantPetroleum for 203 million pounds ($324.87 million) earlier thisyear, has been at the helm since December 2008.
"He's been a particularly good dealmaker, there have been anumber of deals that he has carried out to rationalise theportfolio... and of course most recently the Valiantacquisition," Canaccord Genuity analyst Charlie Sharp said.
Ithaca shares were down about 2 percent at 149 pence at 0742GMT on the London Stock Exchange. They have risen about 18percent in the past year.
Wood Group (J) (WG.)