Panhandle Oil and Gas Inc. announced on Aug. 27 a leadership transition that included the departure of its CEO as the Oklahoma City-based company’s strategy shift to minerals intensifies.

In a company release, Panhandle said Paul F Blanchard Jr., who has been with the company since 2009, had stepped down as a member of the board and as president and CEO effective Aug. 26. In the meantime, Chad L. Stephens, Panhandle’s lead independent director, was appointed by the Panhandle board to serve as interim CEO.

The transition of leadership matches a change in Panhandle’s strategy, according to Mark T. Behrman, a member of the Panhandle board since 2017 who will assume the role of lead independent director.

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