HOUSTON, June 8, 2017 /PRNewswire/ -- Southwestern
Energy Company (NYSE:SWN) today announced that R. Craig Owen, Senior Vice President and Chief
Financial Officer, has elected to leave Southwestern Energy to
accept a new career opportunity with an energy company that does
not compete with Southwestern Energy. Mr. Owen will remain in his
position and continue to support the Company through late June to
assist with a smooth transition. Southwestern Energy is engaging in
a search to identify a permanent Chief Financial Officer.
Jennifer Stewart, the Company's
Senior Vice President, Tax and Treasury, will fulfill the duties of
Chief Financial Officer on an interim basis. Ms. Stewart has been
with Southwestern Energy since 2010, and previously served as Vice
President, Tax. In her current role, she is responsible for all
strategies, operations and policies related to cash management,
banking relationships and liability and risk management, along with
financial planning and analysis. She also manages all aspects of
taxation and tax planning for the Company. She is an attorney
licensed with the State Bar of Texas and has been admitted to the Bar of the
U.S. Tax Court. Prior to joining Southwestern Energy, Ms. Stewart
practiced law at Andrews Kurth Kenyon LLP and Shell Oil Company,
and spent 10 years in Ernst & Young's national tax
practice.
Bill Way, President and Chief
Executive Officer, said, "We are pleased that Jennifer has agreed
to serve as CFO on an interim basis to ensure continuity and a
seamless transition. Jennifer is a seasoned executive who knows our
company well, and I am confident that she will assume these
responsibilities with the same commitment, capability and expertise
she has demonstrated in her seven years at Southwestern Energy. It
is a testament to the strength of our organization to have someone
of her caliber step into this role. I look forward to working with
her and the rest of our Executive Leadership Team as we continue to
build on our momentum and leverage our improving financial strength
to deliver additional value to our shareholders."
"On behalf of the Southwestern Energy Board of Directors and
Executive Leadership Team, I want to thank Craig for his
significant contributions to the Company," Mr. Way continued. "In
his nearly nine years with Southwestern Energy in which he served
as Controller, Chief Accounting Officer and then as CFO since 2012,
Craig worked closely with Jennifer, playing a leading role in our
liability management efforts, capital market transactions and other
key transactions that helped strengthen our balance sheet and drive
growth. We are in a much stronger financial position, which has
enabled us to soundly manage through the challenging commodity
environment and positioned us to capitalize on future
opportunities."
"It has been a true privilege working alongside all of my
colleagues at Southwestern Energy, which has an energizing,
innovation-driven culture," said Mr. Owen. "I firmly believe
Jennifer is the right person to step in as CFO on an interim basis,
and I look forward to continuing to work closely with her over the
coming weeks. While I'm moving on to the next chapter of my career
to pursue a unique opportunity, I remain a shareholder and am
confident about the value that is being created from the Company's
assets when combined with the leadership team and the
highly-talented staff."
About Southwestern Energy
Southwestern Energy Company
is an independent energy company whose wholly owned subsidiaries
are engaged in natural gas and oil exploration, development and
production, natural gas gathering and marketing. Additional
information on the company can be found on the Internet at
http://www.swn.com.
Forward-Looking Statements
This news release contains
forward-looking statements. Forward-looking statements relate to
future events and anticipated results of operations, business
strategies, and other aspects of our operations or operating
results. In many cases you can identify forward-looking statements
by terminology such as "anticipate," "intend," "plan," "project,"
"estimate," "continue," "potential," "should," "could," "may,"
"will," "objective," "guidance," "outlook," "effort," "expect,"
"believe," "predict," "budget," "projection," "goal," "forecast,"
"target" or similar words. Statements may be forward looking even
in the absence of these particular words. Where, in any
forward-looking statement, the Company expresses an expectation or
belief as to future results, such expectation or belief is
expressed in good faith and believed to have a reasonable basis.
However, there can be no assurance that such expectation or belief
will result or be achieved. The actual results of operations can
and will be affected by a variety of risks and other matters
including, but not limited to, changes in commodity prices; changes
in expected levels of natural gas and oil reserves or production;
operating hazards, drilling risks, unsuccessful exploratory
activities; limited access to capital or significantly higher cost
of capital related to illiquidity or uncertainty in the domestic or
international financial markets; international monetary conditions;
unexpected cost increases; potential liability for remedial actions
under existing or future environmental regulations; potential
liability resulting from pending or future litigation; and general
domestic and international economic and political conditions; as
well as changes in tax, environmental and other laws applicable to
our business. Other factors that could cause actual results to
differ materially from those described in the forward-looking
statements include other economic, business, competitive and/or
regulatory factors affecting our business generally as set forth in
our filings with the Securities and Exchange Commission. Unless
legally required, Southwestern Energy Company undertakes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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SOURCE Southwestern Energy Company