Freehold Royalties eliminates chief operating officer role

Freehold Royalties Ltd. (TSX: FRU) announced the departure of Chief Operating Officer Robert King and the elimination of the COO position effective immediately. The Calgary-based energy royalty company stated it will redistribute the role's responsibilities across its existing executive team.

Chief Executive Officer David Spyker thanked King for his six-year tenure and contributions to the company's North American growth strategy, according to the company's statement.

The organizational change coincides with the previously announced termination of a management agreement between Freehold and Rife Resources Ltd. The company said the restructuring aligns with its new operating structure.

Freehold operates as an energy royalty company with approximately 6.1 million gross acres in Canada and 1.2 million gross drilling acres in the United States. The company's shares trade on the Toronto Stock Exchange under the symbol FRU.

You May Also Be Interested In

• Takeda names Julie Kim as president and CEO after shareholder vote
• Cushman & Wakefield names two capital markets leaders in APAC
• FirstService Residential hires SVP to lead Colorado expansion