GST executive change

[bellwj]

Michael McCown, Gastar SVP and COO, has elected to retire effective Feb. 1 (tomorrow). Generally, when a person retires effective the next day, it isn't a good sign. Dan, you know many of the players at GST. Is this newsworthy?

[bigtex]

is not he pretty old and just wanted to retire. there must be a lot of travel between their oil fields and gas fields???????????????????????

[bellwj]

That may very well be. However, it is extremely rare for any executive, let alone the COO, to announce a retirement on Sunday afternoon, effective the next day, unless there is some other reason.

[setliff]

it was announced Friday---

http://finance.yahoo.com/news/gastar-ex ... 00256.html

although, i'm not sure that makes much difference. it may have been known within gst mgt but only released to public late Friday??

he was of an age most retire. be interested in dan's take.

[bellwj]

Dan, now that you are back from the cruise, can you comment on Michael McCown's (apparently) abrupt retirement from GST. It may have been a natural or scheduled thing, but a late Friday announcement of a next Monday retirement is rare for senior execs unless there is more to the story.

[dan_s]

I believe his primary reason for retirement now is that Gastar is going to sell most of their Marcellus/Utica assets, which is his primary purpose for being with the company. After the sale closes they will let a lot of people go to trim overhead.