McMoRan Exploration announces new management structure

Feb. 19, 2004
McMoRan Exploration Co., New Orleans, has separated the roles of chairman and CEO to strengthen its corporate governance structure.

By OGJ editors
HOUSTON, Feb. 19 -- McMoRan Exploration Co., New Orleans, has separated the roles of chairman and CEO to strengthen its corporate governance structure.

McMoRan named Glenn A. Kleinert president and CEO. He joined the predecessor of McMoRan in 1987and most recently served as executive vice-president of McMoRan and president and chief operating officer of McMoRan Oil & Gas LLC.

James R. Moffett and Richard C. Adkerson will continue as co-chairmen of the board. McMoRan will be managed through an Office of the Chairman consisting of Moffett, Adkerson, and Kleinert.

Moffett is continuing to focus on exploration and business strategy. Adkerson will oversee financial and administrative activities and financial strategy. Kleinert is responsible for executive management functions, including acreage development and production activities.