21st Jan 2015 09:21
LONDON (Alliance News) - Magnolia Petroleum PLC Wednesday said Chairman John Cubitt has resigned from the role by mutual consent, and will be replaced by Non-Executive Director Gavin Burnell.
"We are grateful to John for his contribution to the company since 2009 and extend our best wishes to him for the future," said Magnolia Chief Operating Officer Rita Whittington, without going into further details.
Magnolia shares were down 7.1% to 0.65 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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