American International Petroleum Board Accepts Resignation of Joe Michael McKinney.Business Editors NEW YORK--(BUSINESS WIRE)--July 7, 2000 American International Petroleum Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : AIPN AIPN Association of International Petroleum Negotiators AIPN Australian Injury Prevention Network AIPN Advanced Industrial Property Network (Japanese Patent Office) AIPN Asian Industrial Property Network ) announced that today the Board of Directors has accepted the resignation of Joe Michael McKinney, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President. The Company said that Mr. McKinney resigned to pursue other interests, but would make himself available on a part-time consulting basis as deemed necessary by the Company. The Company said it will immediately begin the search for a replacement. The Board has appointed the Company's Chairman, Dr. George Faris to temporarily assume the responsibilities of acting CEO and President and Mr. Denis Fitzpatrick, the Company's Chief Financial Officer, as acting Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. until such time as a permanent replacement for Mr. McKinney is found. American International Petroleum Corporation is a diversified petroleum company which, through various wholly-owned subsidiaries, is involved in oil and gas exploration and development in the Republic of Kazakhstan, and in processing, marketing and transportation of a wide array of refined products, from naphtha naphtha (năp`thə, năf`–), term usually restricted to a class of colorless, volatile, flammable liquid hydrocarbon mixtures. to asphalt, in the United States. Statements herein may be identified as forward-looking for purposes of safe harbor provisions under Section 21E of the Securities and Exchange Commission Act of 1934. Such statements relating to the Company's future business are subject to risks and uncertainties that could cause actual results to differ materially from those statements, and other risks and factors, identified in the Company's SEC filings. |
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