Legacy Reserves' Cary Brown Plans To Resign As CEO In First Half Of 2015

(RTTNews) - Energy company Legacy Reserves LP (LGCY) said Wednesday that Cary Brown, Chairman, Chief Executive Officer and President of the general partner of Legacy, intends to resign from his position as CEO and President of Legacy in the first half of 2015. Brown plans to remain actively involved with the Company by continuing to serve as Chairman of the Board.

Upon Brown's resignation as CEO and President, the Board of Legacy's general partner intends to appoint Paul Horne, currently Legacy's Executive Vice President and Chief Operating Officer, as the new CEO and President.

Additionally, the Board has increased the number of directors from seven to eight, and has appointed Horne as a director to immediately fill that additional seat.

Horne has been part of Legacy's executive management team and has led its operations since the Company was founded in 2005. In those capacities, Horne has not only managed Legacy's daily operations, but has also been actively involved in determining the Company's business strategies and worked closely with Brown in many aspects of Legacy's executive management.