Prairie Operating CEO, Chairman Edward Kovalik resigns

Prairie Operating (PROP) announced several leadership changes, including the voluntary resignation of CEO and Chairman, Edward Kovalik, and the retirement of President and director, Gary Hanna. The Company’s Board of Directors has appointed Richard Frommer, a member of the Board, to serve as Interim President and CEO of the Company, while the Company conducts a search for a permanent President and CEO. The Board has also appointed Erik Thoresen to serve as Chairman of the Board. The Company has entered into separation agreements with Mr. Kovalik and Mr. Hanna with respect to the terms of their separation from the Company. The Company has initiated a search process for a permanent President and CEO and intends on retaining a leading executive search firm to support this process, which will include both internal and external candidates. Frommer has served as director of the Company since November 2024. Thoresen has served as a director of the Company since May 2023.