Edward B. Cloues II, chairman of Penn Virginia Corp., Radnor, Pa., will serve additionally as interim chief executive officer following the retirement of Baird Whitehead as an officer of the company. Whitehead will remain a director.
Cloues said he will work with Jefferies LLC and other advisors “to restructure the company’s balance sheet and enhance its liquidity.” Penn Virginia focuses on the Eagle Ford play of South Texas.
