Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced an executive personnel change.
Mr. Victor A. Wind, currently Forest’s Senior Vice President, Chief Accounting Officer, Corporate Controller and Treasurer, has been promoted to the position of Executive Vice President, Chief Financial Officer and Treasurer effective August 24, 2013. Mr. Wind will be responsible for overseeing all financing activities of the Company and directing its accounting, treasury, corporate planning, investor relations, tax, and information technology functions. Mr. Wind started his career in public accounting in 1995, later served in various management positions, including Director of Financial Reporting and Controller, at Evergreen Resources, Inc. from July 2001 through December 2004, and joined Forest as Controller - Financial Accounting in January 2005.
Mr. Michael N. Kennedy, Forest’s current Executive Vice President and Chief Financial Officer, has resigned his position, effective August 23, 2013, to pursue other opportunities in the oil and gas industry.
Patrick R. McDonald, President and CEO, stated, “We are pleased to announce Victor’s promotion. Victor has been intimately involved and instrumental in the execution of Forest’s turn-around strategy, and we look forward to his continued leadership in his new position. I also want to thank Michael for his years of service and contributions to the Company, and I wish him well in his future endeavors.”FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, that address activities that Forest assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. Forest cautions that future natural gas and liquids production, revenues, cash flows, liquidity, plans for future operations, expenses, outlook for oil and natural gas prices, timing of capital expenditures, and other forward-looking statements relating to Forest are subject to all of the risks and uncertainties normally incident to their exploration for and development and production and sale of liquids and natural gas.