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Callon Petroleum chairman/CEO dies; CFO appointed as replacement

Callon Petroleum Co. Chairman and CEO Fred Callon on May 24 died "suddenly and unexpectedly," prompting the company to name Joe Gatto as the new CEO.

"It is with great sorrow that we announce the untimely passing of our dear friend and esteemed CEO," Gatto said in a May 25 news release. "Fred was, and always will be, the symbol of Callon's core values and dedication to our employees and partners."

Gatto will retain his duties as president and CFO, and the rest of the company's management team will also continue with their current roles.

In addition, Callon Petroleum appointed L. Richard Flury as non-executive chairman, in place of Callon's position in the board as chairman.