Laredo Petroleum Announces William Albrecht to Succeed Randy Foutch as Chairman of the Board of Directors
May 18 2020 - 8:30AM
Laredo Petroleum, Inc. (NYSE: LPI) ("Laredo" or "the Company"),
today announced the appointment of William Albrecht as independent
Chairman of the Board of Directors (the "Board"), succeeding Randy
Foutch upon the expiration of Mr. Foutch's term on May 14, 2020.
Mr. Albrecht, currently an independent member of the Board, will
continue to serve on the Compensation Committee and Nominating and
Corporate Governance Committee.
"Bill's appointment as Chairman fulfills Laredo's prior
commitment to separate the roles of Chairman and Chief Executive
Officer and name an independent Chairman," stated Dr. Bill
Scoggins, Chair of the Nominating and Corporate Governance
Committee. "His extensive energy industry background and leadership
experience will be instrumental in providing guidance to Laredo's
leadership team in these unprecedented times."
"Since joining our Board in February, Bill's insight and
perspective have been crucial to shaping our strategy," commented
Jason Pigott, President and Chief Executive Officer. "I look
forward to continuing to work closely with him as we position
Laredo for long-term, sustainable growth."
Mr. Albrecht has served on Laredo's Board since February 2020.
Additionally, he currently serves as Chairman of the Board of
California Resources Corporation (NYSE: CRC) and as a member of the
Boards of Halliburton (NYSE: HAL) and Valaris (NYSE: VAL).
"Speaking on behalf of the entire Board, I would like to thank
Randy for his tireless commitment to building Laredo Petroleum,"
continued Mr. Pigott. "Through his spirit and dedication, Randy
created a strong foundation for our future growth. The Board and I
wish him well in his future pursuits and are confident he will
continue to be a positive presence in the energy industry."
About Laredo
Laredo Petroleum, Inc. is an independent energy company with
headquarters in Tulsa, Oklahoma. Laredo's business strategy is
focused on the acquisition, exploration and development of oil and
natural gas properties, primarily in the Permian Basin of West
Texas.
Additional information about Laredo may be found on its website
at www.laredopetro.com.
Contact:Ron Hagood: (918) 858-5504 -
RHagood@laredopetro.com
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