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Innogy, SSE name CFO of combined company; TransCanada appoints new board member

S&P Global Market Intelligence presents a weekly rundown of recent executive management, board and regulatory changes in the energy industry. The moves are listed by sector in reverse chronological order.


* General Electric Co. subsidiary GE Energy Financial Services on June 14 announced the retirements of Kevin Walsh, planned in the first quarter of 2019, and Timothy Howell, in the end of 2018. Gaurav Raniwala was also appointed the new Global Renewable Energy Leader, while Susan Flanagan was named Global Power Leader. Additionally, Raghuveer Kurada was named Global Capital Advisory Leader.

* Innogy SE and SSE PLC named Gordon Boyd as CFO designate, effective July 4, of the new British energy supply and services company that will be formed upon completion of their pending merger deal. Boyd will be involved in the formation and listing of the combined retail entity with no participation in the management of existing companies.

* Tesla Inc. CEO Elon Musk confirmed in a tweet that the company is cutting its workforce by about 9%.

Gas utility/midstream

* HighPoint Resources Corp. announced the appointment of Paul Geiger as the company's COO. Geiger will join the company effective July 11.

* Randy Limbacher was appointed to the board of TransCanada Corp., effective June 13, to serve as an independent director. Limbacher has been the CEO of the Houston-based energy advisory firm Meridian Energy LLC since 2017. He also serves as a director of CARBO Ceramics Inc.

* Kevin McCarthy resigned from the board of Range Resources Corp., and from the board's governance and nominating committee, effective June 13.

* Crestone Peak Resources LLC on July 12 announced the appointment of Roger Huang as the company's executive vice president and chief development officer, who is stepping down from the company's board. Additionally, James Trimble was appointed to the company's board. Previous Chairman Avik Dey will also transition to a role on the company's board.

* Lazard Ltd. has named Mark Sooby and Harris Ghozali managing directors of financial advisory in Houston, effective July 2. The pair will advise companies operating in the global oil and gas sector, including on acquisitions and divestitures.

* PJSC Gazprom Neft shareholders approved the appointments of Andrey Dmitriev and Igor Fedorov to the company's board.

* Neste Oyj announced the retirement of Tuomas Hyyryläinen as senior vice president of its emerging businesses unit and a member of its executive board of directors and Osmo Kammonen as a member of the board and senior vice president of Neste's communications and brand marketing. The retirements are effective in August.

* Laurence Downes resigned from Energen Corp.'s board of directors June 4, according to a June 8 SEC filing, leaving the board with 10 members.


* Ramaco Resources Inc. CFO Marc Solochek is set to retire, effective July 1, and then continue to work with the company as a consultant. Randall Atkins, Ramaco Resources' executive chair and board chairman, will assume the role of CFO.

* Paringa Resources Ltd. on June 13 announced the resignation of Grant Quasha as the company's managing director and CEO, effective June 18. The company has started a search for a replacement and appointed Deputy Chairman Todd Hannigan as interim CEO.

* Yancoal Australia Ltd. on June 8 announced the appointment of Baocai Zhang as chairman, effective immediately, replacing Xiyong Li. Fucun Wang was appointed to the board and as vice chair, a role which was vacated by Cunliang Lai, who will remain as a nonexecutive director.