Talisman CEO Switch Speeds Up Sale Speculation

The appointment of Hal Kvisle as chief executive officer of Talisman Energy Inc. (TLM) signals sales of assets or even the whole company to an Asian buyer after its shares declined twice as much as Canada’s benchmark index in the past five years.

Kvisle, who spent more than a decade turning TransCanada Corp. (TRP) into one of Canada’s largest companies, takes over from John Manzoni, who was ousted yesterday as head of the country’s seventh-biggest oil and gas producer by market value.

The management change may ready Calgary-based Talisman for a sale, said John Stephenson, senior vice president and portfolio manager at Toronto-based First Asset Investment Management Inc., who manages C$2.7 billion ($2.76 billion), including Talisman shares.

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- Posted: 2012-09-11 12:04:34

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