LOS ANGELES (AP) -- Renewable resources company Cadiz said Thursday that it named President Scott Slater its CEO.
Slater, who is also a board member, takes over the position from co-founder Keith Brackpool. He has worked at the Los Angeles company since 2008.
Brackpool has been CEO since 1991 and will remain chairman, a post he's held since 2001.
Slater becomes CEO on Feb. 1.
Cadiz Inc. shares rose 18 cents, or 2.5 percent, to $7.47 in afternoon trading Thursday. Over the past 52 weeks, the stock has traded between $6.48 and $11.