VAALCO names new CFO
- Business & Finance
VAALCO Energy, Inc. has made several executive management changes, including the appointment of a new Chief Financial Officer (CFO) and the retirement of two senior executives.
The Houston-based energy company on Wednesday announced that Don McCormack would join VAALCO effective November 1, 2015, as Vice President of Finance and will assume the role of CFO following the filing of the company’s Report for the third quarter 2015.
McCormack brings over 25 years of oil and gas experience to the company, VAALCO said. He has previously held key financial executive management positions with other publicly traded exploration and production companies. Most recently, McCormack was Senior Vice President, Treasurer and Chief Accounting Officer for Rosetta Resources, Inc. from December 2013, until their acquisition by Noble Energy in June 2015.
McCormack held various leadership and managerial positions with Burlington Resources and ConocoPhillips.
Steve Guidry, VAALCO Chairman and CEO, said: “We are very pleased to welcome Don McCormack as CFO. Don has an extensive financial background in the energy arena including accounting, treasury, M&A and transaction experience with several of the most respected E&P companies in the industry. His financial acumen and public market experience will serve us well in the future.”
Gregory Hullinger has decided to retire as CFO following the upcoming filing of the company’s Report for the third quarter 2015. VAALCO said he would continue as an employee until March 15, 2016, to help with the transition of financial reporting responsibilities for the company.
Hullinger joined VAALCO as CFO in October 2008, after more than 30 years of finance and accounting experience at Shell. In addition to managing VAALCO’s finance and accounting functions, he led the company’s investor relations efforts.
Guidry commented: “We want to thank Greg for his financial leadership at the company over the last seven years. Greg played a key role in building the financial support structure at VAALCO as it grew its presence in West Africa. He was a trusted financial advisor to senior management and the Board and was well respected by the investment community. We wish Greg all the best in his upcoming retirement.”
VAALCO also announced that Gayla Cutrer will retire effective January 2, 2016, after a 30-year career with VAALCO, where she served in a variety of key administration leadership roles over her tenure and was named Executive Vice President in 2010.
Steve Guidry further said: “Gayla has had a significant impact on building VAALCO into the company it is today. Her dedication and work ethic established a standard that has been unmatched and her list of contributions over her 30-year career at VAALCO are extensive. We are all very grateful for her contributions and wish her well in her retirement.”