Gary Gould has more than three decades of oil and gas industry experience, but his last position lasted just 1% of that timeframe.
Gould, who left the employ of oil producer Continental Resources to join EQT Corp., the U.S.’s largest dry gas producer, lasted exactly five months – less than one month in the employ of the company’s new regime led by president and CEO Toby Rice, Kallanish Energy reports.
In a one-sentence U.S. Securities and Exchange Commission filing, EQT stated: “On August 6, 2019, Gary E. Gould, Executive Vice President and Chief Operating Officer of EQT Corporation (the Company), notified the Company of his intent to resign from his position with the Company effective August 7, 2019.
In addition, as Gould was clearing off his desk, EQT announced his position – which was created for him by former EQT president and CEO Rob McNally – was eliminated.
When his hiring was announced, McNally said Gould had a “proven track record of driving operational efficiency and lowering costs to achieve superior results.”
“We are confident that Gary will make invaluable contributions to our success as we transition to manufacturing mode, position EQT as a leading low-cost production company and create both near-and long-term value for our shareholders.”
The problem is every reason Gould was hired are the strong points of the new EQT executive team, led by Toby Rice. His board nominees were overwhelmingly voted into position, and he was named head of EQT to lower cost, drive efficiency and make EQT not only the largest, but one of the industry’s most low-cost producers.
They will do so now minus Gould.
This post appeared first on Kallanish Energy News.