Drillsearch Energy Limited (ASX:DLS)
is on the hunt for a new CEO after announcing Brad Lingo will leave the role.
The oil and gas miner says the decision was mutual and would be effective immediately.
COO Walter Simpson will act in the role while the search is progressing.
The board said the company would benefit from fresh ideas and a different skill set to help the company into the next growth phase.
Drillsearch reported a net profit of $14.3 million in the first half of the 2015 financial year.