ZaZa Energy Corp.’s (OTC: ZAZA) president and CEO, Todd Brooks, and a number of other executives, have tendered their resignations because of the company’s inability to pay them, according to the Houston Business Journal.
Brooks' resignation was effective Jan. 8. He co-founded the company in 2009 and was named CEO in 2012. In addition to Brooks, five of the company's directors – Herbert Williamson IV, Travis H. Burris, A. Haag Sherman, Gaston Kearby, and John Hearn – have also resigned because of nonpayments. ZaZa’s chief accounting officer, Charles Ngo, resigned Jan. 10.