New CFO Named For #linnenergy Amid "Current Challenging Environment" #management #humanresources

By 25th August 2015 Industry News No Comments

Linn Energy said Tuesday morning that David B. Rottino has been appointed as Executive Vice President and CFO, effective immediately. He replaces Kolja Rockov, Executive Vice President and CFO, who the company says is leaving Linn to pursue other opportunities.

“David has demonstrated tremendous leadership in the Company’s transformational initiatives over the past two years, which have resulted in a more stable asset base and an improved ability to weather this current challenging environment,” said Mark E. Ellis, Chairman, President and CEO.

David B. Rottino

Linn says on its website that it held approximately 7.3 Tcfe of proved reserves in producing U.S. basins as of December 31, 2014. The company’s core focus areas are the Rockies, California, Hugoton Basin, Mid-Continent, Permian Basin, east Texas and north Louisiana, Michigan, Illinois and South Texas. Linn Energy became the first publicly traded independent oil and natural gas limited liability company in January 2006.

Rottino Brings 2 Decades Of Experience To New Role

Rottino joined the company in June 2008 as Senior Vice President and Chief Accounting Officer and has served as Executive Vice President, Business Development and Chief Accounting Officer since January 2014.

Before this time, he served as Senior Vice President of Finance, Business Development and Chief Accounting Officer from July 2010 to January 2014. He holds more than 20 years of experience in the O&G industry and has also held leadership positions with El Paso Corporation, ConocoPhillips and Burlington Resources.

Rottino holds a BBA from Texas Tech University and received his MBA from Texas Christian University. In his new role, Rottino will lead Linn’s existing finance and investor relations teams, along with his continued oversight of the accounting and business development functions at the Company.

Ellis said, “We believe his extensive industry knowledge, as well as his significant finance and accounting experience, will serve us well as we navigate an uncertain period of low commodity prices and position the Company for the future.”

Rockov Resigns

Kolja Rockov, Executive Vice President and CFO, will be leaving Linn to pursue other opportunities. “This mutually agreed departure is not related to any disagreement with the Company’s policies or practices,” the company said.

Kolja Rockov

Ellis commented, “We want to express our sincere appreciation to Kolja for his vision in leading the formation of our sector with LINN’s IPO in 2006. His enthusiasm and innovation were central to LINN’s growth from a small private company to one of the largest U.S. independent oil and natural gas producers over the last decade.”