Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

SandRidge says interim CEO not in race for top job

Published 09/21/2018, 07:08 AM
Updated 09/21/2018, 07:08 AM
© Reuters. An electronic display identifies the post that trades SandRidge Energy stock on the floor of the New York Stock Exchange

(Reuters) - SandRidge Energy Inc (N:SD) said on Friday board member and interim Chief Executive Officer Bill Griffin would not be a candidate for the position of CEO but would continue in his role until a successor is appointed.

The oil producer in February ousted its chief executive James Bennett after coming under pressure from activist investor Carl Icahn who had objected to his pay and a $746 million bid to buy rival Bonanza Creek Energy Inc (N:BCEI) late last year.

SandRidge initiated a strategic review in June, a month after Icahn gained control of the company by taking five seats on the board and pushed for its sale.

However, earlier this month, SandRidge said it ended its review but rejected all bids, saying they undervalued the company.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.