HINSDALE, Ill., March 1, 2007 (PRIME NEWSWIRE) -- The chief executive officer of Voyager Petroleum (OTCBB:VYGO), John Lichter, is stepping down and being replaced by Voyager's Chief Financial Officer. Mr. Lichter, will leave his job to pursue other interests in the field of technology.
Named by the Chicago based company yesterday as the new CEO is Jefferson Stanley. Mr. Stanley was the former Principal and founder of HedgeMark Advisors, a hedge fund marketing firm and has held positions with Ernst & Young's tax practice, Royal Bank of Canada's corporate finance group, and with Cargill's hedge fund subsidiary, Black River Asset Management.
"This is about moving forward and completing Voyager's strategy of building a petroleum lubricant company through acquisition," Sebastien Dufort, Voyager's President said today. "Mr. Lichter made significant contributions to establishing Voyager as a company but we felt Mr. Stanley's experience in M&A, capital markets, tax and law was better suited to helping us manage the company, execute acquisitions, and assist in capital raising."
The newly appointed CEO said in a statement, "I want to thank Mr. Dufort and the board for this opportunity. It is an exciting time to be with the Company and to be in the petroleum products recycling business. Over the last six months we finalized an agreement to purchase a waste oil processing facility, hired a new plant manager, and solidified an order for over $4 million in product over the next year. I look forward to continued success working with Mr. Dufort and the rest of the team to help build the business."
About Voyager Petroleum
Voyager Petroleum seeks to acquire reputable middle market petroleum based lubricant companies that refine, blend, bottle, and distribute to the automotive and manufacturing after market with established regional distribution channels and experienced management that would recognize increased revenue and significant cost savings from an injection of working capital, wider distribution, or vertical integration.
Forward-Looking Statements
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