Laredo Petroleum Names Mikell J. Pigott as President and Announces CEO Succession Plan
April 24 2019 - 4:30PM
Laredo Petroleum, Inc. (NYSE: LPI) ("Laredo" or the "Company")
today announced that the Company has named Mikell J. ("Jason")
Pigott as its new President and a member of the Board of Directors,
effective May 28, 2019. Mr. Pigott will succeed Randy A. Foutch as
Laredo’s Chief Executive Officer during the fourth quarter of 2019.
"Jason’s appointment is the culmination of a comprehensive
succession planning process that has been years in the making and
that we began implementing in October of 2018," stated Randy A.
Foutch, Chairman and Chief Executive Officer. "His extensive
background in leading multi-disciplinary operational and technical
organizations as well as experience contributing to executive-level
strategic decisions will be invaluable as he begins to assume
leadership of the Company and transitions into the CEO role. I am
excited to be guiding this transition for Laredo and have no doubt
that Jason’s succession will be smoothly implemented to allow for
my retirement."
"Jason’s proven ability to lead and execute at a high level fits
perfectly with the Laredo culture," commented Edmund P. Segner,
III, Laredo’s lead independent director. "His energy and dedication
earned the Board’s unanimous support and we are excited to be
working with him."
"The opportunity to lead a company like Laredo is a
once-in-a-lifetime honor," stated Mr. Pigott. "Randy built a
Company designed for long-term success, amassing a contiguous
acreage position in a world-class basin, investing in cost-reducing
field infrastructure and maintaining a strong balance sheet. I am
excited to lead Laredo as we strive to build upon this foundation
and drive long-term value for our shareholders."
Mr. Pigott has more than 20 years of experience in the energy
exploration and production industry, most recently serving as
Executive Vice President - Operations and Technical Services for
Chesapeake Energy, where he oversaw a drilling, completion and
facilities budget that exceeded $2.0 billion annually while also
leading the digital operations, supply chain and land efforts.
Prior to joining Chesapeake in 2013, he was with Anadarko Petroleum
for 14 years, serving in positions of increasing responsibility,
focused primarily on onshore unconventional play development in the
Eagle Ford Shale, Haynesville Shale, Delaware Basin and various
tight-sand plays in East Texas.
Mr. Pigott holds a Bachelor of Science in Petroleum Engineering
from Texas A&M University and an MBA from the University of
North Carolina, Kenan-Flagler School of Business.
Contacts:Ron Hagood: (918) 858-5504 -
RHagood@laredopetro.com
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