- Gran Tierra Energy (NYSE:GTE) agrees to concessions to West Face Capital, saying it will support the board nominees proposed by the activist investor and double the size of its board to eight members.
- GTE says West Face nominee Gary Guidry will take over as President and CEO, effective immediately.
- West Face, which owns ~9.8% of GTE’s shares outstanding, said last month it sought to replace the four-member board with its own nominees and boost the board size to six; under the new agreement, the board will expand to eight members, including six West Face nominees.
- GTE +1.3% premarket.