VAALCO Energy Inc. CFO Elizabeth Prochnow has elected to retire effective March 31, 2021, the company said on March 18.
Prochnow’s departure is not related to any issues regarding strategy, financial disclosures, accounting or legal matters, or any disagreements with management or the Board. The company has initiated an executive search to fill the CFO position. Following Prochnow’s retirement, Jason J. Doornik, VAALCO’s chief accounting officer and controller, will serve as principal financial officer until a new CFO has been named.
Prochnow was named CFO on April 1, 2019 and before that served as VAALCO’s chief accounting officer since joining the company in March 2015. Prior to joining VAALCO, Prochnow had a long and successful career with a variety of finance management positions primarily with publicly traded companies including a number of companies in the energy sector.
“We wish Liz the very best in her retirement as she plans to spend time traveling with her husband who has also recently retired and spend more time with her family,” Cary Bounds, CEO, said. “Liz has had a very meaningful impact on VAALCO during her six years with us and has been an integral member of our management team. She played a significant role in our financial transformation in the last three years and was instrumental in our recent acquisition of additional interest in Etame. We will all miss Liz’s financial and strategic insight.”
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