Oil and natural gas E&P (exploration and production) company Swift Energy Co. will see both its CEO and CFO retire in the coming months.
The company, which has headquarters in Houston, emerged from Chapter 11 bankruptcy April 25 after filing for creditor protection Dec. 31, 2015.
Swift Energy announced the retirements Tuesday, and that both CEO Terry Earl Swift and CFO Alton D. Heckaman, Jr. will assist the company in transitioning their duties over the next several months.
Swift, who has served as CEO for 15 years, believes now is the right time for a transfer in leadership, he said in a release. He will exit his role on the board of directors after he retires.
Heckaman, Jr., who serves as CFO and executive vice president, stated in a release that he is “looking forward to taking a step back for a little while from day-to-day management to enjoy more time with family and friends.”
The company is immediately searching to fill the roles for a new CFO and CEO.
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