The President of Oklahoma City-based Roan Resources, Inc. has resigned.
Tony Maranto who was President, CEO and chairman of the board of directors resigned effective April 12 “for personal reasons” according to a company statement.
Board member Joseph A. Mills was named to replace him as Executive Chairman of the board and will assume the duties of the principal executive officer of the company. His move was made effective April 15 while the search for a new Chief Executive Officer is conducted.
The remainder of the company’s senior management remains in place. The company announcement indicated Mills is “deeply familiar” with all aspects of the company business and there should be no disruptions in the operations of the firm’s premier assets.
But it will be double duty for Mills because he is also the President and CEO at Samson Resources II, LLC, a position he has held since March 2017. He previously had been Chairman and CEO at Eagle Rock energy G and P, LLC and Montierra Management LLC.
“We thank Tony for his dedicated service to Roan and wish him well,” said Mr. Mills. “I know the Company well from my service on its Board and am excited to assume the role of Executive Chairman.”
Roan has assets of more than 170,000 acres in the core of the Anadarko basin, offset by best in class operators such as EOG, Cimarex, Continental, Marathon and Encana. The company continues to focus its main efforts in t he Merge, SCOOP and STACK plays.
The Board of Directors plans to engage an executive search firm to find a permanent replacement for the Chief Executive Officer position.