Core Viewpoint - Diversified Energy Company announced the resignation of Randall Wade from its Board of Directors following a decrease in EIG Management Company's ownership below 10% of the company's outstanding shares, with no disagreements cited as the reason for his departure [1]. Group 1: Board Changes - Randall Wade, Co-Founder of EIG, has resigned from the Board of Directors of Diversified Energy Company [1]. - Wade's resignation follows a reduction in EIG's ownership stake in Diversified Energy [1]. - His contributions were acknowledged as valuable during his tenure, particularly in energy investments and strategic growth [1]. Group 2: Company Strategy and Leadership - CEO Rusty Hutson, Jr. expressed gratitude for Wade's leadership during a critical period for the company, highlighting his role in shaping acquisition strategies and integrating the Maverick acquisition [2]. - The company remains committed to delivering sustainable returns and enhancing shareholder value through disciplined acquisitions and operational excellence [2]. - Diversified Energy focuses on acquiring, operating, and optimizing cash-generating energy assets while investing in technology to improve performance [2]. Group 3: Company Overview - Diversified Energy is recognized as a leading publicly traded energy company, emphasizing the acquisition and optimization of long-life energy assets [3]. - The company is noted for its sustainability leadership and solutions-oriented approach, aiming to produce energy responsibly while generating reliable free cash flow [3].
Diversified Energy Announces Departure of Randall Wade from Board of Directors