Canada-based Niko Resources Ltd. said Nov. 25 that Robert S. Ellsworth Jr. will resign as interim CEO and director, effective Dec. 19, and also said that William T. Hornaday’s appointment as CEO will become effective Dec. 19.
Hornaday has served on the board of directors since August 2007, and as the COO since December 2004. Prior to that, he had previously been vice president of operations since April 2001.
Hornaday is a professional engineer, and earned a bachelor’s degree from the University of Calgary. He has more than 40 years’ experience in the international energy business, handling project management, production, facilities, drilling and business development. Previously, he was the executive director and COO of an intermediate-sized international gas and power generating company.
Niko Resources also said that Scott K. Brandt’s appointment as a director will also become effective Dec. 19. Brandt was a consultant to Niko Resources on strategic options and restructuring from January 2014 through June 2015. Prior to that, he was a senior consultant for ICF International consulting firm.
Ellsworth said that in the coming months, Niko Resources will work to resolve disputes in Bangladesh and work to monetize certain core assets.
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