Toreador announced that Charles J. Campise will depart from his position as Toreador's Senior Vice President and Chief Financial Officer, effective August 30, 2009. Under the terms of the termination agreement, Mr. Campise has entered into a retention agreement until his effective departure date and will remain at the Company in the interim to assist in the smooth transition of the Company's headquarters from Dallas, Texas to Paris, France. The Company has also initiated an executive search process for a Paris-based CFO and that appointment is expected to be announced before August 30, 2009.
Mr. Craig McKenzie, CEO of Toreador, said, "As part of Toreador's new corporate platform announced in February, we will be relocating the Company's headquarters from Dallas, Texas to Paris, France and therefore reducing our U.S. presence. This move underscores our commitment to improving efficiency and integrating activities across the Company. On behalf of the Company and the Board of Directors we express our sincere appreciation to Charles and his team, along with all the Dallas-based staff, for their dedication and hard work over the years. We wish them the very best in their future endeavors."
Toreador expects to complete the move to Paris and close the Dallas operations by mid-year.
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