Synergy Resources announces co-chief executive officers

PLATTEVILLE – Synergy Resources Corp. (NYSE MKT: SYRG), which drills oil and natural-gas wells in Weld County, announced Friday that two of its executives will now serve as co-chief executive officers.

Ed Holloway, former Synergy chief executive officer, and William Scaff, former Synergy executive vice president, will share the title of co-chief executive officer.

Scaff will remain treasurer while both Scaff and Holloway will remain serving as directors of the company. The changes were made at a board meeting Wednesday.

Holloway and Scaff joined Synergy in 2008 and have been making the strategic decisions jointly since that time, Bill Conrad, director and chairman of Synergy’s Compensation Committee, said in a statement.

“These changes in our officers and their responsibilities properly reflect the contributions and importance of these individuals to the company,” Conrad said.

Additionally, Craig Rasmuson was elevated from vice president of operations to chief operating officer. Rasmuson also joined Synergy in 2008.

Val Dunn, controller for Synergy, was promoted to secretary and will assume duties previously performed by Scaff.

Synergy shares were down more than 2 percent at $8.98.


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