NewLink Genetics (NLNK) Names New CFO Oct 1, 2014 05:22PM

NewLink Genetics (NASDAQ: NLNK) announced that Jack Henneman has been appointed Executive Vice President and Chief Financial Officer, effective immediately. Mr. Henneman replaces Gordon H. Link, Jr., Chief Financial Officer.

Mr. Henneman, age 52, has more than 20 years of combined financial and operational management experience in the life sciences industry. Prior to joining NewLink, Mr. Henneman served Integra LifeSciences in various capacities for sixteen years, including as General Counsel and Chief Administrative Officer, and since 2007 as Chief Financial Officer. During his tenure as Integra's CFO, Mr. Henneman transformed the finance function to accommodate Integra's growth, recruited and developed key leaders in accounting, tax, financial planning and analysis and treasury, and raised almost one billion dollars in new capital from banks and in the debt and equity capital markets. Mr. Henneman was also responsible at various times for Integra's regulatory affairs, quality systems, clinical affairs, human resources, information systems, legal affairs and the management of Integra's surgical instruments business. He has led the business development function since 1998, responsible for the more than 40 acquisitions and alliances that Integra completed during his tenure.

"Jack's extensive experience in building commercial-stage companies and background in finance, strategy, business development and operations, will be of great value to NewLink as we work toward becoming a commercial enterprise," said Dr. Charles Link, CEO and Chief Scientific Officer of NewLink Genetics. "Jack's leadership will be instrumental in shaping NewLink's future. I am looking forward to working closely with him."

"I am joining NewLink at a very exciting time," said Mr. Henneman. "I am looking forward to doing whatever I can to help transform NewLink into a commercial stage biopharmaceutical company."

"The Company is grateful for Gordon's many contributions to NewLink, including his leadership role in our public financings and in many other areas," said Dr. Link. "We wish him all the best in his future endeavors."

In his role as Executive Vice President and Chief Financial Officer, Mr. Henneman will be NewLink's principal financial officer. Carl Langren, Vice President Finance, will continue to serve as principal accounting officer.


Glacier Bancorp (GBCI) CEO to Retire Oct 1, 2014 05:08PM

Glacier Bancorp, Inc. (Nasdaq: GBCI) today announced that it has retained a leading executive search firm to advise the Board of Directors on potential internal and external candidates for a successor to Michael J. Blodnick as President and Chief Executive Officer. To enable an orderly and effective leadership transition, Mr. Blodnick has advised the Board well in advance of his intention to retire.

Mr. Blodnick will continue to serve as President and Chief Executive Officer until a successor is named and the successful transition of responsibilities has been achieved. The Board has retained Spencer Stuart, an executive search firm with extensive experience in CEO transitions, to advise the Board on potential internal and external candidates for a successor President and Chief Executive Officer.

Mr. Blodnick said, "I am pleased that we are retaining an experienced search firm to assist us in this important process. I'm confident we will identify an excellent successor to lead Glacier for many years to come."

Dallas I. Herron, Chairman of the Board, said, "Mick has dedicated his career to Glacier and making it the high quality company it is today. While he will leave big shoes to fill, he has helped establish a culture of service and performance which will serve as a sound foundation for his successor."

The Board expects to identify and hire a successor by mid-2015. Mr. Blodnick has agreed to remain with Glacier and work with his successor for a timeframe and in a capacity to be determined by the Board to ensure a smooth leadership transition. "After 37 years with Glacier, I have every intention of getting this right for our shareholders, employees and customers," said Mr. Blodnick.


Murphy Oil (MUR) Declares $0.35 Quarterly Dividend; Updats on Operations; Announces Exec Changes Oct 1, 2014 05:08PM

Murphy Oil (NYSE: MUR) declared a quarterly dividend of $0.35 per share, or $1.4 annualized.

The dividend will be payable on December 1, 2014, to stockholders of record on November 14, 2014, with an ex-dividend date of November 12, 2014.

The annual yield on the dividend is 2.5 percent.

n an operational update, the Company confirmed the successful closing on the sale of the U.K. retail gasoline network on September 30, 2014 to Motor Fuel Group. The sale of the Milford Haven refinery remains on track to close on October 31, 2014.

With the completed disposition of the U.K. retail system and the pending close of the Milford Haven refinery sale, Tom McKinlay, Executive Vice President - U.K. Downstream, will be leaving the Company, effective November 1, 2014, to pursue other opportunities. McKinlay joined Murphy in 1991 and has held several positions within the Company`s downstream business.

Bill H. Stobaugh, Executive Vice President Corporate Planning and Business Development, who has stewarded the sales process of the U.K. downstream business at the corporate level, will retire from the Company effective March 1, 2015, after nearly 20 years of service. Stobaugh joined Murphy Oil Corporation in May 1995 as Vice President, Corporate Planning in El Dorado, Arkansas. He was promoted to Senior Vice President, Corporate Planning in May 2005 and was named to his current position in 2012.

Roger Jenkins, President and Chief Executive Officer commented, "We are pleased to conclude the sale of the U.K. retail business and expect to complete the Milford Haven refinery divestiture in the near term." Jenkins added, "We appreciate Tom`s contributions over his many years with the Company and wish him well in his future endeavors. Bill has served the Company well leading our planning initiatives for many years and most recently managed the U.K. sales process for us. I wish him well in his well-deserved retirement."

In other operations, the sidetrack of the Titan-1 well has been plugged and abandoned after failing to encounter hydrocarbons. The sidetrack, along with the original Titan-1 well, will incur a pretax dry hole expense of approximately $66 million in the third quarter of this year. Murphy also reiterates our third quarter production guidance of 225,000 barrels of oil equivalent per day and our previously disclosed annual guidance.

In other business, the Board of Directors approved the following executive management succession:

Kevin G. Fitzgerald, Executive Vice President and Chief Financial Officer, will retire effective March 1, 2015, after nearly 33 years of service. Mr. Fitzgerald joined the Murphy enterprise in 1982 as Assistant Treasurer of the Company`s contract drilling subsidiary in New Orleans. In 1996, he was named Director, Investor Relations, then promoted to Treasurer in 2001. Mr. Fitzgerald was promoted to Senior Vice President and Chief Financial Officer in 2007. He was named to his current position in 2011.

John W. Eckart, currently Senior Vice President and Controller, will succeed Mr. Fitzgerald as Executive Vice President and Chief Financial Officer effective March 1, 2015. Eckart joined Murphy in 1990 as Auditing Manager and was promoted to Assistant Controller in 1995. He was named Controller in 2000 and was promoted to Vice President and Controller in 2007. He was promoted to his current role in 2011. He holds a bachelor`s degree in Accounting from the University of Arkansas and is a Certified Public Accountant.

Roger Jenkins said, "On behalf of the Company, I want to thank Kevin for his many years of service and wish him well in retirement. Kevin has provided sound advice and guidance to managing the financial affairs and investor relations of the Company, and his contributions will be greatly missed." Jenkins continued, "We welcome John to his new role as Executive Vice President and Chief Financial Officer. John has been with the Company for many years and the transition will be seamless."

For a dividend history and other dividend-related data on Murphy Oil (MUR) click here.


Allegiant Travel (ALGT) Reports Resignation of COO Levy Oct 1, 2014 04:55PM

Allegiant Travel (Nasdaq: ALGT) announced that Andrew C. Levy, President and COO of Allegiant Travel Company, has resigned from his executive positions with the company and will step down from the Allegiant board.

For the past 13 years, Mr. Levy has led Allegiant in a variety of roles, including most recently as President, Chief Operating Officer and Board Member and previously as Managing Director and Chief Financial Officer. During his tenure, Allegiant has grown from a single aircraft company to a billion dollar leader in the leisure travel space that has posted 46 consecutive profitable quarters. In 2014, AVIATION WEEK ranked Allegiant the top-performing Airline in North America for the third consecutive year.

"Andrew and I have been shoulder to shoulder at Allegiant since its earliest days. He has been tremendously valuable in building the company to where it is today," said Maurice J. Gallagher Jr., Allegiant's Chairman and CEO of Allegiant Travel Company. "I thank him for his contributions. I know I speak for many when I say he will be missed."

Mr. Gallagher and the executive team will temporarily assume his duties while Allegiant, in conjunction with its Board of Directors, identifies Mr. Levy's successor. Mr. Levy will continue to serve as an advisor to the company for the next several months.

"This is a decision I considered carefully and feel confident there is tremendous momentum for the initiatives I've championed. I have no doubt Allegiant will not skip a beat due to the outstanding management team that remains intact, led by Maury," said Levy. "These past 13 years have been exciting, and I am extremely proud of the company we have built, but it is time for me to pursue more entrepreneurial opportunities. I am excited about the future. Allegiant's future is also very bright and I feel confident I am leaving at a time when Allegiant is strong, healthy and poised for ongoing growth."

In accordance with Mr. Levy's separation agreement all unvested equity incentive options and restricted stock will immediately vest, thus impacting stock compensation expense during the third quarter. The company will update its cost guidance in the upcoming September traffic release.

"Allegiant's ability to produce strong financial results, successfully balance capital allocation opportunities for company growth and shareholder returns has long been viewed as positive by the investment community," said Levy. "I continue to hold a large investment in Allegiant, which I look forward to continuing into the future."


Centrus Energy (LEU) CEO Welch to Step Down (USU) Oct 1, 2014 04:49PM

Effective October 17, 2014, John K. Welch will step down as the President and Chief Executive Officer of Centrus Energy Corp. (NYSE: LEU) and will resign as a member of the Board of Directors. Mr. Welch’s departure is not the result of any disagreement with the Company relating to its operations, policies or practices. Mr. Welch will receive severance pursuant to the Amended and Restated Executive Severance Plan attached as Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on September 30, 2014.

On October 1, 2014, John R. Castellano was appointed as the Interim President and Chief Executive Officer of the Company, effective October 17, 2014. A copy of the press release announcing the appointment of Mr. Castellano is filed as Exhibit 99.1 to this Current Report on Form 8-K.

In connection with the Company’s recently completed restructuring as discussed in the Company’s Current Report on Form 8-K filed with the SEC on September 30, 2014, the Company engaged AP Services, LLC (“APS”), an affiliate of AlixPartners, LLP (“AlixPartners”) to provide various consulting and management services to the Company. Mr. Castellano is a partner at AlixPartners and has served as the Company’s Chief Restructuring Officer since October 2013 pursuant to that engagement.

Mr. Castellano’s services to the Company are billed by APS under its agreement with the Company. Mr. Castellano will not receive separate compensation from the Company for serving as the Interim President and Chief Executive Officer of the Company.

Mr. Castellano, age 47, joined AlixPartners in 1998 and has more than two decades of experience restructuring energy, oilfield services and infrastructure companies. He earned a Masters of Business Administration from Kellogg Management School at Northwestern University, and holds several accounting certifications.

The Company has begun a process to select a permanent President and Chief Executive Officer of the Company.


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