Hess Corp. (NYSE:HES) today announced that, after consulting with its shareholders, it will separate the role of Chairman and Chief Executive Officer after its Annual Meeting.
The oil company that is in a proxy battle with billionaire Paul Singer’s Elliot Management Corp., said it will strip Chief Executive Officer John B. Hess of the chairmanship after its May 16 Annual Meeting in Houston, TX.
Hess said that its current chairman and chief executive, John Hess, supported the decision. The oil and gas company did not explicitly say that Hess would continue as CEO, but it did not nominate any other candidates for the position.
Hess said it would...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
