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Miller Energy's CFO is leaving the company [The Knoxville News-Sentinel, Tenn.](Knoxville News-Sentinel (TN) Via Acquire Media NewsEdge) Oct. 31--A local energy company has seen another change in the ranks of its top executives. Miller Energy Resources said this week that John Brawley, who was appointed CFO in February, is leaving the company on November 14. According to a news release, Brawley is leaving to take a CFO position with another energy company. "During John's tenure, the Company has made substantial progress in expanding its access to capital, lowering its cost of debt and improving its internal controls," Carl Giesler, Miller's CEO, said in the release. "We will miss John's leadership and judgment, and wish him the best in his new endeavors." Miller has seen significant changes in its leadership in recent months. Giesler was named CEO in September, replacing Scott Boruff, who became the company's executive chairman. In August, Miller announced that its president, David Voyticky, had resigned. The company said at the time that Voyticky's duties would be absorbed by other executives. Jeffrey McInturff, Miller's chief accounting officer, will serve as the company's interim CFO upon Brawley's departure, and Miller said it has begun a formal search for Brawley's successor. Miller has previously said that one factor in Giesler's hiring as CEO is his experience with master-limited partnerships, publicly traded entities that pay cash distributions to their investors. MLPs are sometimes used by energy companies to reduce their tax burden. Miller has indicated that it may use the entities to monetize its midstream assets, a term used to describe infrastructure -- such as pipelines or processing facilities -- that move oil and gas from drilling sites to refineries and terminals. The company, which held its annual meeting this week, also said a deal to sell its Tennessee oil and gas assets is expected to close in November. ___ (c)2014 the Knoxville News-Sentinel (Knoxville, Tenn.) Visit the Knoxville News-Sentinel (Knoxville, Tenn.) at www.knoxnews.com Distributed by MCT Information Services |