Seeking Alpha

Encana restructures senior management, old guard leaves

  • Encana's (ECA +0.2%) restructuring of its senior management team, including the appointment of a new chief operating officer overseeing both Canada and the U.S. - ECA has not had a COO since 2006, when former CEO Randy Eresman was promoted from that role - will help unify the company, a FirstEnergy Capital analyst says.
  • The restructuring is the latest step in the revamp promised by new CEO Doug Suttles; among five departing senior managers is Encana USA President Jeff Wojahn, who headed the unit when it was accused of colluding with Chesapeake to suppress land prices in Michigan in 2010.
  • "It's not really surprising a company that has struggled over the last few years has brought in an outsider as CEO and is going through a strategic review, that some of the old guard is choosing to retire," FirstEnergy says.
Comments (2)
  • Quicksilver_YYC
    , contributor
    Comments (8) | Send Message
     
    This shake-up was a long time coming. The previous CEO blindly ran the company into the ground and it was his executive that just went along and likely never questioned the company direction or strategy. The BOD should be replaced as well.
    1 Oct 2013, 11:40 PM Reply Like
  • Lionel Yeo
    , contributor
    Comments (281) | Send Message
     
    New broom sweeps clean.
    4 Oct 2013, 09:55 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|