Hess said on Friday that it will separate the roles of chief executive and chairman following its annual shareholders meeting on May 16, the latest maneuver in its ongoing battle with activist investor Paul Singer of Elliott Associates. Hess has nominated former General Electric vice chairman John Krenicki to take over as chairman, replacing John Hess, who will remain the company's chief executive. Krenicki will only be appointed, however, if shareholders elect him to join Hess' board as part of a broader group of independent director nominees.
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