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Continental Resources director leaving to be University of Oklahoma president

The CEO of petrochemical firm Basell North America Inc., James Gallogly, is leaving his seat on the board of crude oil producer Continental Resources Inc. as he takes over as president of the University of Oklahoma, Continental said March 29.

Gallogly's resignation will be become effective at the end of Continental's May 17 annual meeting.

Gallogly was named the 14th president of the University of Oklahoma on March 26. Oklahoma's College of Engineering is named after him, as is a new biomedical engineering building, Gallogly Hall, scheduled to open 2019.

"Mr. Gallogly indicated he was resigning from the board in order to ensure he would be able to devote the necessary time and attention to fulfilling his new duties to the University of Oklahoma," Continental said in the announcement.