Diversified Energy Company (NYSE: DEC, LSE: DEC) has announced the departure of Randall Wade, Co-Founder of EIG, from the Company's Board of Directors. This follows a reduction in EIG's ownership of Diversified Energy below 10% of the Company's outstanding shares. Mr. Wade's resignation was not the result of any disagreement with the Company.
Rusty Hutson, Jr., Chief Executive Officer of Diversified Energy, expressed appreciation for Randy's leadership and guidance during a pivotal period for the company. He highlighted Mr. Wade's instrumental insights in shaping the acquisition strategy, integrating the transformative Maverick acquisition, and strengthening the company's position as a leading U.S. energy provider.
Diversified Energy remains focused on delivering sustainable returns and creating shareholder value through its platform by acquiring, operating, and optimizing cash-generating energy assets, operational excellence, disciplined acquisitions, and innovative technology deployment.
For the latest period, Diversified Energy's strategic approach has positioned it as a leading publicly traded energy company focused on acquiring, operating, and optimizing cash-generating energy assets. The company's unique differentiated strategy involves acquiring existing, long-life assets and investing in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. The company has been recognized by ratings agencies and organizations for its sustainability leadership.
For further information, please contact Diversified Energy Company at +1 973 856 2757 or Doug Kris, Senior Vice President, Investor Relations & Corporate Communications at [email protected]. The market has reacted to these announcements by moving the company's shares 0.24% to a price of $12.47. For more information, read the company's full 8-K submission here.
