Elizabeth Prochnow has decided to retire from her role as CFO of Vaalco Energy, effective March 31, 2021. She is the second Houston E&P CFO to retire this week, following Jim Ulm at Callon Petroleum.
Vaalco’s primary source of revenue is from offshore Gabon in West Africa. It also has an undeveloped block in offshore Equatorial Guinea. The company has revenues of $67 million and a market capitalization of $139 million.
Ms. Prochnow joined the company in May 2015 as its Chief Accounting Officer and was promoted to CFO in April 2019. According to the press release issued by the company, her husband has recently retired and they wish to spend more time traveling and with her family.
The company has initiated an executive search for a new CFO. In the meantime, Jason Doornik, the company’s Chief Accounting Officer, will serve as the interim CFO.