Montage Resources Corp. on Dec. 16 tapped Randall M. Albert to serve as chairman of its board directors following the resignation of Michael Jennings.
In a release, the Irving, Texas-based company said Jennings’ resignation was not the result of any disagreement with Montage or any of its affiliates. Instead, Jennings decided to resign as chairman of the Montage board, effective Dec. 13, in order to focus his efforts on his recent appointment as CEO and president of refiner HollyFrontier Corp.
In connection with Jennings’ departure from the Montage board, the size of the board was reduced to nine members from 10 members.
Commenting on the leadership transition, John Reinhart, president and CEO of Montage Resources, thanked Jennings for his years of service while also welcoming the appointment of Albert, currently serving on the board, as chairman.
“He has many years of valuable operational experience in the Appalachian Basin and we look forward to his stewardship in this vital role,” Reinhart said in a statement on Dec. 16.
Albert was a former board member of Montage’s predecessor, Eclipse Resources. He had previously served as COO of the gas division of Consol Energy Inc. He had begun working for the company, now known as CNX Resources Corp., in 1979.
In addition to serving as board chairman for Montage, Albert will also serve on the company’s audit and compensation committees.
Montage was formed earlier this year following the completion of a multimillion-dollar merger between Eclipse and Blue Ridge Mountain Resources. In total, Montage holds about 218,000 net effective undeveloped acres currently focused on the Utica and Marcellus shale plays of southeast Ohio, West Virginia and North Central Pennsylvania, according to the company release.
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