ATP shares dive after second chief quits

Executive exit: Matt McCarroll and ATP Oil & Gas part ways a week after appointment

Shares of ATP Oil & Gas have plunged 16% after its would-be new chief executive quit days after his appointment was announced due to a contract dispute.

ATP Oil & Gas shares fell to $4.91 on Friday, making it the top percentage loser on the Nasdaq on Friday morning, according to Reuters.

The company said last Friday that Matt McCarroll has been appointed chief executive and had purchased 1 million shares.

McCarroll resigned late on Thursday after disagreeing with the company on the employment contract, and his share purchase has been revoked.

T Paul Bulhman, whom McCarroll was meant to replace after a switch to executive chairman, has now resumed as acting chief executive of ATP Oil & Gas.

McCarroll, former chief executive…

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