Penn West Petroleum Ltd.: Toronto Stock Exchange

Toronto Stock Exchange: Shares in the Calgary-based oil producer closed down more than four per cent to $10.45 on the Toronto Stock Exchange on Wednesday, according to 660 News. Penn West said a former senior executive from Marathon Oil, David Roberts, will become the new CEO and president effective June 19 and CALGARY Penn West Petroleum Ltd. TSX:PWT says it will be reducing staffing levels by 10 per cent, installing a new president and chief executive officer and cutting its quarterly dividend by half while it undergoes a strategic review. Penn West didnt say specifically how many people would lose their jobs but according to regulatory documents the company had 2,130 employees at the end of Dec. 31. (www.immigrantscanada.com). As reported in the news.