IPE regroups after board resignations

London's International Petroleum Exchange has appointed a new chairman as the first step of regrouping after key board members resigned.Former Chairman Lord Fraser of Carmyllie and former Chief Executive Lynton Jones handed in their notices after IPE members voted against a plan to restructure the organization (OGJ, Aug. 9, 1999, p. 26).The new chairman is Sir Bob Reid, chairman and chief executive of Shell U.K. Ltd. during 1985-90 and chairman of British-Borneo Oil & Gas plc since 1995.Lord Fraser said, "after the events of the past weeks, the exchange needs a period of reflection during which to consider its future strategy. The exchange is in a good position from which to build: it...

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