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Parex Resources Board Reshuffles, New CEO

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Parex Resources Board Reshuffles, New CEO

Parex Resources Inc. announced the following executive appointments and changes to the Board of Directors

Pursuant to the Company's director retirement policy, both Norman McIntyre, the Company's Chair of the Board, and John Bechtold, Director and Chair of the Reserves and Operations Committee of the Board, have stated their intention to not stand for re-election as directors of the Company and to retire from the Board at the Company's upcoming Annual General and Special Meeting of shareholders, currently scheduled for May 11, 2017.

As part of the Company's ongoing succession planning efforts:

Wayne Foo is to retire as Chief Executive Officer of Parex effective as at the date of the AGM, at which time he is to transition to a new role as Chair of the Board. Dave Taylor, Parex' current…
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