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Range Resources and SailingStone Capital Partners LLC, owner of approximately 17% of Range's shares outstanding, today jointly announced that they have entered into an agreement for Range to appoint two mutually agreed upon independent directors to its Board of Directors.
The Company has also agreed to separate the Chairman and CEO roles and the Board has appointed Greg G. Maxwell, an independent Director, to the position of Chairman of the Board effective immediately.
With these planned appointments, along with the recent departure of a director and the planned departure of a second director who has announced his retirement from the Board effective September 30, 2018, Range's Board will be comprised of 10 directors, nine of whom will be independent.
Search for EVP
Additionally, the Company plans to initiate an external search for an Executive Vice President to supplement and strengthen the Company's management team.
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