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Penn West chief executive officer Murray Nunns
Penn West chief executive officer Murray Nunns
(TODD KOROL/REUTERS)

Penn West shareholders change their tune on CEO

The market supported Murray Nunns, Penn West Petroleum Ltd.’s outgoing president and chief executive, until it didn’t.

Mr. Nunns “informed” Penn West’s board of his “intention to retire” effective July 1, according to a statement the company released late Tuesday. Penn West announced Mr. Nunns’ successor, who will take over June 19, in the same press release. Mr. Nunns will also vacate his board seat and David Roberts, Penn West’s new leader, will join the other directors at the table.