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EXCO Resources Inc. has reported that Douglas H. Miller has resigned from his positions as Chairman of the Board and Chief Executive Officer as well as from EXCO’s Board of Directors effective as of November 20, 2013.
The Board of Directors has appointed Jeffrey D. Benjamin, a long-time investor in EXCO and an independent member of EXCO’s Board of Directors, to serve as Non-Executive Chairman of the Board of Directors. Mr. Benjamin has extensive knowledge of EXCO and its business, having served on the Board since October 2005 and prior to that from 1998 through 2003. Mr. Benjamin is also currently a director of Caesars Entertainment Corporation, Chemtura Corporation and Chairman of the Board of Spectrum Group International, Inc.
Mr. Benjamin stated, "Since Mr. Miller led the group that acquired control of EXCO in 1997, his contributions to the organization have been significant. The entire Board extends their sincere gratitude and appreciation to Mr. Miller, along with best wishes for the future. The Board has initiated a search to identify EXCO’s next Chief Executive Officer. The search process will include a full review of both internal and external candidates."