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February 4, 2010 12:50 EST Related Symbols: EQT
PITTSBURGH (AP) – Energy company EQT Corp. said Thursday its CEO, Murry S. Gerber, will step down in April. Chief Operating Officer David Porges will take his place.
The changes will occur after the company’s annual meeting on April 21.
Gerber, who has been CEO for 12 years, will remain as executive chairman until April 2011 to help in the transition, the company said.
Gerber plans to remain active in the natural gas industry, working on public policy and commercial issues, the company said.
He was hired as CEO in 1998, the same year Porges joined the company as chief financial officer.
Porges has been president and chief operating officer for two years. He joined the company board in 2002.
Shares of EQT fell $2.44, or 5.3 percent, to $43.47 in midday trading. The stock has ranged from $27.39 to $46.80 over the past year.
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