Stephen F. Smith has decided to retire from his duties as president and chief financial officer of EXCO Resources Inc. (NYSE: XCO), effective June 1.
According to the release, Smith retired from his duties as president effective Feb. 28, and will retire from his duties as chief financial officer effective April 1. He has further decided not to stand for re-election to EXCO’s board of directors at the 2013 annual meeting of shareholders. He will serve as a full-time EXCO employee until June 1 to assist with certain transition matters.
Harold L. Hickey, vice president and chief operating officer, has been appointed to replace Smith as president and will remain chief operating officer, effective Feb. 28. Hickey has served in various senior management roles at EXCO since he joined the company in 2001. Hickey’s transition to the role of president is a product of the thorough and deliberative management succession planning process undertaken over the last several years by the board of directors, according to the release.
Mark Mulhern, former chairman of the audit committee at EXCO, has been appointed as chief financial officer, effective April 1. Mulhern previously served as chief financial officer and senior vice president of Progress Energy Inc. and managed its financial services group until July 2012.
EXCO Resources Inc. is an oil and natural gas acquisition, exploration, exploitation, development and production company with principal operations in East Texas, North Louisiana, Appalachia, and West Texas. The company is headquartered in Dallas.