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EQT searches for new CFO

Company launches search for permanent chief financial officer

The board of directors at shale gas giant EQT have terminated chief financial officer Jimmi Sue Smith, replacing her with Kyle Derham on an interim basis, according to a regulatory filing.

Smith was terminated without cause on 29 August, EQT said, and is set to receive certain payments and benefits if Smith satisfies the terms and conditions contained within her contract agreement, according to a filing with the Securities and Exchange Commission.

EQT has launched a search process for a permanent chief financial officer, but has appointed Derham as interim effective as of 29 August. The company is also without a chief operating officer as Gary Gould resigned from his post on 7 August.

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Derham has been a partner at the Rice Investment Group since April 2018, and was also vice president of finance and corporate development at Rice Energy from January 2014 until the company’s acquisition by EQT in November 2017.

EQT did not provide any compensation details for Derham’s interim appointment.

The Rice brothers, including current chief executive officer Toby Rice, took over the company following a successful proxy campaign that ended 10 July. The board quickly moved to appoint Toby as CEO following the shareholder vote.

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