Gulfport Energy CEO resigns after unauthorized use of credit card, private jet
Gulfport Energy Corp.’s GPOR, +2.96% chief executive has stepped down following a company review that found he had made personal charges to a company credit card and used Gulfport’s chartered aircraft without permission.
On Thursday, the company said Michael G. Moore had resigned as CEO and president as of Oct. 29 and Chief Operating Officer Donnie Moore assumed top executive duties on a temporary basis. The two men aren’t related.
In a securities filing, the company said Michael Moore’s resignation from the board “was not a result of any disagreement with us or our operations.”
The company, in the filing with the Securities and Exchange Commission, said it was informed of the unauthorized use in September and said the board’s audit committee hired an independent counsel to review the matter. The review, concluded this week, found that the personal charges to the credit card, dating to 2007, had been repaid periodically and that there were no current outstanding charges. Interest charges over the roughly 11-year period, however, added up to $9,493. The company said it is seeking to recoup that interest.
An expanded version of this report appears on WSJ.com.
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