Houston-based BPZ Resources (NYSE: BPZ) is losing its chief operating officer to BP (NYSE:BP).
On Monday, BPZ announced that COO Richard Spies intends to move back to BP on Nov. 1. He will remain COO through Oct. 31, assisting the company in finding his replacement. Spies will also continue to serve of the board of directors of BPZ Resources.
Spies served as president of BP Russia from 2005 until he retired from BP in 2009. He has served as COO of BPZ since 2010 but has been on the company's board of directors only since last week -- joining Sept. 3.