10:51 AM EDT, 08/29/2024 (MT Newswires) -- Advantage Energy ( AAVVF ) late on Wednesday said its subsidiary Entropy has named Sanjay Bishnoi as CEO, effective Sept. 23.

Entropy founder Michael Belenkie will step down as president and CEO, but will remain chairman of the board.

"Like all of us at Entropy, [Bishnoi] understands that CCS is a vital technology in the global path to reducing emissions and that success is driven by a combination of advanced technology, sophisticated commercial partnerships and an innovative, experienced team," Belenkie said.

Bishnoi previously served as CFO of Parex Resources ( PARXF ) .

Advantage Energy ( AAVVF ) maintained its Sector Perform rating and $12 price target at RBC Capital Markets following the announcement.

The company's share price was down 0.35% at last look to $9.575.

Price: 9.58, Change: -0.03, Percent Change: -0.31