Carlos Slim-Backed Talos Sinks After Surprise Exit of CEO and Founder
- Oil driller’s shares drop as much as 10% on the announcement
- Latin America’s richest person boosted his stake this month
Tim Duncan
Photographer: Mark Felix/BloombergThis article is for subscribers only.
Talos Energy Inc., a US oil producer whose biggest shareholder is billionaire Carlos Slim, slid after the unexpected departure of its chief executive officer.
Tim Duncan, who was also one of the company’s founders, stepped down on Thursday, Talos said in a statement that didn’t provide a reason for his exit. Board member Joseph Mills will serve as interim CEO, and Talos has hired an executive search firm to find a permanent successor. Shares slid as much as 10.3% in New York, the biggest intraday tumble since November.