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Limbacher to resign as CEO of Rosetta Resources

Rosetta Resources

Rosetta Resources Inc. (Nasdaq:ROSE) has made several changes to its executive leadership including the resignation of its chairman, CEO and president, Randy L. Limbacher.

Randy Limbacher

Limbacher has served as Rosetta's CEO and president since 2007. He will be succeeded as chairman, CEO and president by James E. Craddock, who has served as Rosetta's senior vice president of drilling and production operations.

In addition, John D. Clayton will be appointed as executive vice president and COO, who has previously served as Rosetta's senior vice president of asset development. John E. Hagale will remain executive vice president and CFO and will report to Craddock.

Limbacher will remain with the company until April 2013 to provide transitional support for the change in leadership at the company.

"We are grateful to Randy for his leadership of Rosetta since joining the company" said Phil Frederickson, Lead Director of the Board of Directors of Rosetta. "Over the last six years, Randy led a dramatic restructuring of the company's business, with a transition from exploring for conventional resources to developing unconventional resources plays. These efforts have culminated in our leading position in the Eagle Ford shale in South Texas and resulted in record growth in production, reserves and cash flows for the company in 2012."

Craddock joined Rosetta as vice president, drilling and production operations in April 2008 and was named senior vice president, drilling and production operations in January 2011. He has more than 30 years of industry experience in exploration and production operations, including reservoir and production engineering and unconventional oil and gas exploitation. Prior to joining Rosetta, he was COO for BPI Energy Inc., an exploration and production start-up company focused on coal-bed methane development. For more than 20 years, he previously held technical and management positions of increasing authority with Burlington Resources. He received a bachelor’s degree from Texas A&M University.

John Clayton joined Rosetta as vice president, asset development in March 2008 and was named a senior vice president in January 2011. He has more than 25 years of industry experience including reservoir, production and drilling engineering, as well as business development activities related to strategic planning, mergers, acquisitions and joint ventures. Prior to joining Rosetta, he held various leadership and managerial positions with Burlington Resources and ConocoPhillips. Clayton has a bachelor’s degree from Louisiana State University.

 

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