Encana restructures senior management, old guard leaves

|About: Encana Corporation (ECA)|By:, SA News Editor

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.