Vermilion Energy Inc. (NYSE: VET) said Nov. 30 that Lorenzo Donadeo, co-founder and CEO, has publicly announced his intention to retire.
Anthony Marino, Vermilion's current president and COO, will assume the role of president and CEO upon Donadeo's retirement. The move is in line with the Calgary, Alberta-based company's succession plan, the release said.
Marino has about 32 years of experience in the energy industry, according to the release. Prior to joining Vermilion in 2012, he held the position of president and CEO of Baytex Energy Corp. and also served as president and CEO at Dominion Exploration Canada Ltd.
Donadeo's retirement will be effective March 1, at which time he will transition to his new role as chair of the board of directors. Larry Macdonald, the company's current Chair will transition to the newly created role of lead director.
Donadeo co-founded Vermilion in 1994 as executive vice president and COO. He assumed the role of president and CEO in 2003.
"Over that 22-year period, Vermilion has grown from a public company with no assets to an established international leader with production targeting approximately 64,000 boe per day in 2016," Macdonald said in a statement.
Vermilion is an oil-leveraged producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America , Europe and Australia, according to the release.
Marino holds a Bachelor of Science in Petroleum Engineering with highest distinction from the University of Kansas, an Masters of Business Administration from California State University, and the chartered financial analyst designation.
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