US well intervention specialist Key Energy Services said its CEO has resigned from the company to pursue “other opportunities.” Rob Saltiel will receive a lump sum severance payment of $2.5 million, Key said in a securities filing. That is greater than Key'ss current market capitalization, which stood at $2.2 million late Thursday. Board chairman Phil Norment said Saltiel “played a key role in the company'ss recent cost- reduction initiatives, exiting certain operations and areas in order to focus on key markets, as well as reducing overhead costs.”
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