September 21, 2018 / 10:42 AM / 3 months ago

SandRidge says interim CEO not in race for top job

An electronic display identifies the post that trades SandRidge Energy stock on the floor of the New York Stock Exchange, January 11, 2013. REUTERS/Brendan McDermid/File Phoro

(Reuters) - SandRidge Energy Inc (SD.N) said on Friday board member and interim Chief Executive Officer Bill Griffin would not be a candidate for the position of CEO but would continue in his role until a successor is appointed.

The oil producer in February ousted its chief executive James Bennett after coming under pressure from activist investor Carl Icahn who had objected to his pay and a $746 million bid to buy rival Bonanza Creek Energy Inc (BCEI.N) late last year.

SandRidge initiated a strategic review in June, a month after Icahn gained control of the company by taking five seats on the board and pushed for its sale.

However, earlier this month, SandRidge said it ended its review but rejected all bids, saying they undervalued the company.

Reporting by Debroop Roy in Bengaluru; Editing by Arun Koyyur

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