Synenco President Resigns, Supple Takes Over
Synenco Energy Inc. announced the resignation of Todd Newton as President, Chief Executive Officer and a director of the company. Mike Supple, Chairman of the Board of Directors, assumes the role of President and reassumes the role of Chief Executive Officer.
Mr. Supple is a founder of Synenco Energy and has more than 40 years of experience in international business and the oil sands industry. He has held senior technical, project and management roles with Suncor and with wholly owned subsidiaries of Caltex, Gulf, and Occidental Petroleum Company.
Mr. Supple said, "We thank Todd for his contribution over the past nearly four years and we wish him well in his new endeavours. Going forward, Synenco will concentrate on two priorities--to continue the company's review of strategic options, and to steward the Northern Lights oil sands mine application through the regulatory process."
Mr. Newton said, "I believe the company has a great asset base and very dedicated employees. I wish it only the best success in the future."
Synenco also announced that it has struck a special committee of independent members of the Board of Directors to oversee the strategic options review process initiated in May 2007. The committee will consist of Terry Poole, Dan Westbrook and Al Burry.
- Total Sells Stake in Canada's Northern Lights Project to Sinopec (Apr 01)
- Total E&P Canada Cinches Acquisition of Synenco (Aug 06)
- Total Increases Synenco Acquisition Offer to CA$10.25 per Share (Jul 24)