Corp. ("Sonde" or the "Company") (TSX: SOQ) (NYSE MKT: SOQ) announced today that
Jack Schanck, President and Chief Executive Officer, has formally notified the
Board of Directors of his intention to retire from Sonde for personal reasons.
Mr. Schanck's retirement is effective on the earlier of June 30, 2013 and the
appointment of a successor to the position of President and Chief Executive
Officer. Mr. Schanck will also be retiring from the Board of Directors but he
has agreed to stay on as an advisor until December 31, 2013 to assist with the
transition. The Board of Directors has formed a search committee which is in the
advanced stages of identifying a suitable replacement for Mr. Schanck.
I stand corrected, somewhat...see below
Co announces that effective immediately it has added Rick George, as Chairman, and Allan Markin, as Vice-Chairman. Jack Schanck, who has acted as Chair on an interim basis, will remain on the Board. Bill Andrew remains on the Board and will share the Vice-Chairman duties with Markin. Rick George served as a director and the President and Chief Executive Officer of Suncor from 1991 to 2012.
Wow, well, I guess we now know who has been dumping shares like they were going to be worth toilet paper in the near future...non-other then the ever optimistic and enthusiastic CEO who has been promising all kinds of stuff and delivering on nothing. We'll see if they can put someone in charge who actually can make things happen. I think the stock is going to .80c on Monday though. Can't wait for the conference call on Tuesday. Should be interesting to hear him say why he is leaving right before all the things he has been working on so diligently over the past couple years are about to come to fruition...oh wait, nothing has come to fruition...hasn't stopped him from earning 700,000 to 900,000 a year while common stock holder has lost 80-90%.