Cairn Energy Names Simon Thomson As New CEO

Cairn Energy PLC CRNCY named Simon Thomson as its new chief executive officer, replacing Bill Gammell, who will step down as of July 1. Thomson is the current legal and commercial director of Cairn. Gammell will take over as the company's non-executive chairman, replacing Norman Murray. Murray, Malcom Thoms, chief operating officer, and Philip Tracy, group engineering and operations director will step down from the board. Gammell will remain as chairman of Cairn India. Cairn Energy shares dropped 4.52% to close at $13.30 yesterday. Read more from Benzinga's Company news.