InterOil Shareholders Nominate 5 Independent Directors To Board


May 13 (Reuters) - Oil and gas producer InterOil Corp's former chief executive, Phil Mulacek, and other shareholders nominated five independent directors to the company's board.

The shareholders, who collectively own about 7.6 percent of InterOil, said in a statement "the incumbent board has presided over a massive destruction of shareholder value."

Up to Thursday's close, the company's shares had fallen more than 38 percent in the last 12 months.

InterOil on Friday reported a smaller net loss for the first quarter ended March 31, helped by lower exploration and finance costs.

(Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Automation Engineering Manager
Expertise: Electrical Engineering|Engineering Manager
Location: Houston, TX
Administrative Assistant
Expertise: Secretarial or Administrative
Location: Lenorah, TX
Technical Professioanl V
Expertise: Process Engineer|Technical Manager
Location: Houston, TX
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours