Niko Resources Chairman to step down

  • Business & Finance

Canadian oil and gas exploration and production company, Niko Resources, has announced that its Chairman of the Board and interim CEO, Kevin J. Clarke, intends to resign. 

The decision will be effective upon the completion of Niko’s restructuring transaction announced earlier in March when the company announced that it would seek to delay its payment obligations by two years and restructure its debt after attempts to sell the company at a reasonable price failed.

The company further said it has appointed Robert S. Ellsworth Jr. to its board, effective immediately.

Ellsworth previously served as the Global Co-Head and Chief Operating Officer of BlackRock’s multi-manager hedge fund business.

Also, two other board directors, Vivek Raj and Steven K. Gendal, resigned from Niko’s board. The company’s board is now comprised of Kevin J. Clarke, E. Alan Knowles, William T. Hornaday, Christopher Rudge, and Robert S. Ellsworth Jr.

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