Australia's PPP CEO Tom Prudence Steps Down, Firm Not Seeking Replacement

Pan Pacific Petroleum NL (PPP) announced Monday that its CEO Tom Prudence will leave the exploration and production firm focused on New Zealand, Australia, Vietnam and Timor Leste-Australia Joint Petroleum Development Area Tuesday.

The Australia-based company indicated that it will not fill the CEO position.

"The Company's current commitments no longer justify a full time CEO and Grant Warner, a Director of PPP, will take on the part-time role of representing PPP in all Joint Venture matters. The Company has today entered into an agreement with wOrner Pty Ltd. a company associated with Worner," PPP said in a press release.

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