Feb 20 Oil and natural gas producer Whiting Petroleum Corp said on Thursday it has changed its bylaws to allow former Chief Executive D. Sherwin Artus to run for re-election to the board of directors beyond the age of 75.
Artus, who joined Whiting in 1989 and was its CEO from 2000 to 2006, turned 76 in April of 2013 and would have been ineligible to stand for re-election at the company's annual meeting this May under the previous bylaws.
Whiting's seven-person board voted on Thursday to waive that requirement for Artus, allowing him to run for one more three-year term, the company said in a regulatory filing.
The bylaw change only applies to Artus.
Shares of Whiting rose 2 percent to $62.95 in Thursday afternoon trading. The stock has gained nearly 29 percent in the past 52 weeks.