Encana President & CEO retires
Posted Jan 11, 2013 4:21 pm.
This article is more than 5 years old.
Natural gas giant Encana Corp. says its President & CEO is retiring after 35 years at the company.
Randy Eresman’s departure from the top job is effective immediately, but he’s agreed to stay on the board in an advisory role until the end of February.
Eresman says the company is in good shape and it’s the right time for him to hand the leadership over to someone else.
Clayton Woitas has been appointed CEO on an interim basis while the board searches for a permanent replacement.
Woitas is a director on Encana’s board and chief executive of Range Royalty Management Ltd.
Encana spun off its oil assets into Cenovus Energy Inc. (TSX:CVE) about three years ago, meaning it is almost entirely focused on natural gas.
Since then, low gas prices have made it particularly tough on Encana, which has been selling assets and inking joint-venture partnerships in order to shore up its finances.
