ZaZa Energy CEO and other execs resign

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.  

ZaZa Energy was included on Houston Business Journal''s Nov. 2, 2015, list of five Houston-based “distressed” companies. The company has assets in the Eagle Ford and Eaglebine shale plays.

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