Encana names new CEO

Encana has named Doug Suttles, a veteran engineer with BP, as their new CEO on Tuesday morning.

Canada’s largest natural gas producer Encana has named a former BP engineer as their new man at the top.

The company named Doug Suttles as their new CEO on Tuesday morning.

Suttles was the engineer who led BP’s response to the 2010 oil spill in the Gulf of Mexico.

He'll replace Randy Eresman, who left abruptly at the beginning of the year.

On Monday, BP said that the cleanup of the spill had just been completed.

The natural gas giant (TSX:ECA) posted operating earnings in May of US$179 million, or 24 cents per share. During the same period a year earlier, operating earnings -- deemed a better measure of Encana's underlying performance -- were $240 million, or 33 cents per share.

(With files from the Canadian Press)