Callon Petroleum Co. has appointed Joseph Gatto Jr., now CFO, as CEO and named L. Richard Flury as nonexecutive chairman following the unexpected death of Fred L Callon. Funeral arrangements were pending on Friday at Laird Funeral Home in Natchez, MS. Gatto, who had worked with Fred Callon since 2012, also continues as president and CFO. "I am humbled by the opportunity to continue to build upon Fred’s legacy and fulfill his vision for Callon Petroleum," Gatto said. "We are all committed to ensuring a smooth transition and to honoring Fred’s memory through a continued commitment to our core values." Gatto previously worked for Merrill Lynch & Co., Barclays Capital, Merrill Lynch Commodities Inc. and MarchWire Capital LLC, which he founded. He graduated from Cornell University and has a master's degree from the Wharton School of the University of Pennsylvania. Flury has served on the board since 2004 and is on the company’s audit, compensation/strategic planning and reserves committees. He spent more than 30 years with Amoco Corp., later taken over by BP plc, and later served as CEO of BP's gas, power and renewables unit. Flury also is a director and nonexecutive chairman of Chicago Bridge and Iron Co. NV.