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For the first time in more than three decades, Encana (NYSE: ECA ) has a new chief executive. The company has tapped Doug Suttles to be its CEO and president, replacing Randall Eresman, who occupied both positions for more than 30 years.
Suttles is a veteran oil and gas industry executive. Most recently, he was chief operating officer, exploration and production, at BP (NYSE: BP ) . In that capacity, he was instrumental in the company's cleanup of its 2010 Gulf of Mexico oil spill. His hiring is the culmination of a six-month effort by Encana's board, according to The Wall Street Journal.