Board elects Dave Stephenson to succeed Frank Mezzatesta as President.

The Board elected Director Dave Stephenson to succeed Frank Mezzatesta as President.  The vote took place at the April 23 meeting, and the change is effective immediately.  Other Officers were reelected:  Vice President, Alma Quezada; Secretary, Steven Muro; and Treasurer, Laurie Bennett.  Frank Mezzatesta remains on the Board and pledged his assistance to Dave Stephenson with the transition.

The motion to elect a new President was made by Alma Quezada, seconded by Steven Muro, and passed with three Ayes.  Frank Mezzatesta and Laurie Bennett abstained.  An organizational meeting of this kind is required by the Bylaws to be held immediately after every Annual Meeting of Shareholders, and all Officers serve at the pleasure of the Board.

In discussion of the motion, two shareholders challenged the wisdom of electing a new President when the incumbent had only been serving about 18 months.  They argued that decisions about wells need to be made promptly and that changing the President would slow the decision-making process. Other shareholders and some Board members argued for the benefit of rotating Directors among Offices and stated that the process would not be slowed down because the Board composition is not changing.  Dave Stephenson suggested the Board could publish a timeline for well-related decisions and report as milestones are hit or not.  There seemed to be general approval of this idea.

At the beginning of the meeting, Directors, Staff, and Shareholders expressed their appreciation to Lauri Marino for 25 years of service as Crestview’s office manager, bookkeeper, secretary, and institutional memory who knows all shareholders and is always efficient, helpful, and very pleasant to deal with.  Frank Mezzatesta presented Lauri with the Company’s gift of a sculpture featuring a large glass water drop and inscribed with appreciation for her service.

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