WPX Energy to add investor nominee to board

Wed Dec 18, 2013 7:53am EST

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Dec 18 (Reuters) - Oil and gas producer WPX Energy said it would add a nominee of shareholder Taconic Capital Advisors LP to its board, a day after the company announced the departure of its CEO.

Taconic Capital, an $8.2 billion hedge fund, is the second-largest shareholder in WPX with a 6.9 percent stake.

WPX, spun off from pipeline operator Williams Cos Inc in 2011, said the new board member would assist in the CEO search.

The company said on Tuesday that CEO Ralph Hill would step down, without giving any reason for his departure.

WPX holds assets in the Piceance basin of Colorado, the Bakken shale in North Dakota and the Marcellus shale in Pennsylvania.

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