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SilverBow Resources Inc. said on Nov. 27 that David Geenberg stepped down from the company's board of directors and his seat will be filled by industry veteran Ellen R. DeSanctis.
Geenberg, one of two directors nominated by investment firm Strategic Value Partners LLC (SVP), stepped down as a “natural progression” of SVP's sell-down of its equity position in the company.
Under the current terms of the director nomination agreement between SVP and SilverBow, SVP maintains the right to continue to designate one director nominee, subject to conditions on share ownership, which includes the right to remove and replace its remaining director nominee at any time.
Marcus C. Rowland, independent chairman of the board said Geenberg’s, “business acumen and insights have been extremely valuable to the company, and we wish him the very best in his future endeavors."
DeSanctis, whose appointment is effective Nov. 27, will serve as an independent director following a comprehensive search process prior to Geenberg’s departure.
Rowland said she brings immense knowledge to SilverBow as an experienced leader in the oil and gas industry.
DeSanctis has more than 40 years of industry experience, most recently serving as senior vice president of corporate relations for ConocoPhillips, where she worked from 2012 until her retirement in 2022. She previously held various positions relating to corporate communications and strategic development and planning for several upstream energy companies, including Petrohawk Energy Corp., Rosetta Resources, Burlington Resources and Vastar Resources.
DeSanctis currently serves on the board of directors of Plains All American Pipeline and as a member of the board of directors of St. Agnes Academy in Houston.
With the appointment of DeSanctis, the board remains comprised of nine directors, eight of whom are external and independent.
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