InterOil (IOC) falls 5% premarket after announcing CEO Phil Mulacek will retire effective April...


InterOil (IOC) falls 5% premarket after announcing CEO Phil Mulacek will retire effective April 30. The company calls Mulacek "a remarkable visionary" and notes that he will continue to serve as an adviser. Mulacek departs as IOC seeks to finalize a long-promised LNG partnership in Papua New Guinea. Chairman Dr. Gaylen Byker will serve as interim CEO until a replacement for Mulacek is found.

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Comments (8)
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
     
    Let me guess...he's going to spend more time w/ his family.
    I am no expert in IOC, but i am happy to have sold my long calls relatively unscathed. It is too volatile for me, but more importantly, it moves wildly for any reason or no reason at all.
    23 Apr 2013, 09:29 AM Reply Like
  • Roger Newman
    , contributor
    Comments (294) | Send Message
     
    Hmmmm. Leaving just before culminating his life's crowning achievement of closing a deal? Sounds very fishy to me!
    23 Apr 2013, 09:30 AM Reply Like
  • Dfont74395
    , contributor
    Comments (4) | Send Message
     
    Down 5% pre-market and fifteen minutes after the open it is only down .40, sounds to me like he may have been the one in the way of the deal getting done.
    23 Apr 2013, 09:47 AM Reply Like
  • az63
    , contributor
    Comments (49) | Send Message
     
    Agree with you Dfont. He was clearly an impediment to a deal getting done and was I understand he was very close to Carlo Civelli. I believe the new acting CEO is very lined up with the largest institutional shareholders, including Richard Chandler. They want a deal down so I believe this is very positive and we should be getting closer to a deal.
    23 Apr 2013, 10:17 AM Reply Like
  • rookie
    , contributor
    Comments (9) | Send Message
     
    Maybe the bidders wanted him out of the way?
    23 Apr 2013, 10:20 AM Reply Like
  • az63
    , contributor
    Comments (49) | Send Message
     
    I believe that to be the case rookie.
    23 Apr 2013, 12:36 PM Reply Like
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
     
    does that mean i should go long.....hummmmmmm
    maybe time for an 80 / 100 spread?
    23 Apr 2013, 07:03 PM Reply Like
  • az63
    , contributor
    Comments (49) | Send Message
     
    Buy calls. You know your downside and can capture upside. With possible short squeeze value to calls could fly. Suggest you do $80 or $85 calls for June.
    24 Apr 2013, 11:01 AM Reply Like
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