New York City-based Warren Resources (NASDAQ: WRES) has a new CFO.
On Monday, the independent oil and gas company announced that it has promoted current Chief Financial Officer Timothy A. Larkin to the position of executive vice president for mergers and acquisitions, after 18 years' service in the former capacity. Taking his place will be Corporate Controller Stewart P. Skelly, now promoted to the CFO's post.
In making the announcement, Warren Chairman and Chief Executive Officer Philip A. Epstein praised Skelly's "solid understanding of Warren's financial position" and noted that Larkin's new job will focus on growing the company's assets "through acquisitions and industry joint ventures."
Terms of the executives' new compensation structures, assuming they have changed, have not yet been filed with the SEC.