Stone Energy Corp., headquartered in Lafayette, LA, has elected David H. Welch as its new president and CEO and as a member of the board of directors, effective April 1. Current President and CEO D. Peter Canty is retiring, however, he will continue as a director. Welch, 55, began working at Amoco in 1978 and subsequently, at BP America Inc. where he most recently served as senior vice president responsible for all external affairs in North America. He also was president of BP Alaska Canada Gas, and was earlier president of BP’s Deepwater Gulf of Mexico Development and Production business. Canty’s association with Stone began in 1981 when he joined a predecessor company. He was the primary designer of the acquisition and exploitation strategy that has been responsible for the successful development and growth of Stone since its formation.
Andrew Weissman, lead Department of Justice prosecutor for the Enron Task Force in the Arthur Andersen obstruction trial, has been named to lead the task force. He takes over from Leslie Caldwell, who plans to leave for a job in the private sector. He said that the task force’s work is not completed, adding that there were a “number of trials pending and ongoing investigations.” Since it was formed in January 2002, the task force has issued 29 indictments, entered into plea bargains with nine and entered into financial settlements with Merrill Lynch and CIBC. It also successfully prosecuted Arthur Andersen.
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