SandRidge forced to look for new permanent leader…CEO says he won’t take it on permanent basis

Don’t count on him to be the permanent leader of SandRidge Energy.

It’s what William M. Griffin, Jr., Interim President and Chief Executive Office has told the board. The revelation was confirmed when SandRidge Energy made a filing on Friday with the Securities and Exchange Commission. (Click here to read.)

The filing stated that Griffin informed the board of directors on Monday, Sept. 17 “he would not be a candidate to serve as the Company’s permanent President and Chief Executive Officer.”

But the filing indicated the company intends for Griffin to continue serving as Interim President and CEO “until a successor is appointed and to continue as a non-employee member of the board thereafter.”

Meanwhile, the board has formed a four-member search committee to evaluate and recommend to the board candidates to replace Griffin.

 

The CEO Search Committee consists of the Chairman of each of the Board’s standing committees, Robert G. Alexander, John J. “Jack” Lipinski and Randolph C. Read, together with Jonathan Frates, the Board’s Chairman.

Griffin was named President and CEO in February. The company’s biography stated he has 36 years of experience in the oil and gas industry.

“Mr. Griffin most recently served as President and CEO of privately held Petro Harvester Oil & Gas. Mr. Griffin’s background also includes senior leadership positions as President of Ironwood Oil & Gas, Senior Vice President of El Paso Exploration and Production Company, and Vice President of Sonat Exploration Company. In addition to an executive position on the board of Petro Harvester Oil & Gas, Mr. Griffin previously served on the boards of Black Warrior Methane Corp. and Four Star Oil & Gas Company. Mr. Griffin also currently serves on the private board of Stranded Oil Resources Corporation. Mr. Griffin began his career with TXO Production Corp. and is a registered professional engineer with a B.S. in mechanical engineering from Texas A&M University.”

 

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