Penn Virginia Corporation Announces Leadership Transition

04.05.2011  |  Business Wire

As previously announced, A. James Dearlove, 63, has retired as Chief
Executive Officer of Penn Virginia Corporation (NYSE: PVA) after more
than 33 years of service, including nearly 15 years as Chief Executive
Officer. The Board of Directors elected H. Baird Whitehead, 60, as Chief
Executive Officer, effective today. Mr. Whitehead will continue to serve
as President and a Director, positions he has held since February 2011.
Prior to today′s election, Mr. Whitehead served as Chief Operating
Officer since February 2009. He previously served as Executive Vice
President from January 2001 until his election as President in February
2011. Prior to joining Penn Virginia in 2001, Mr. Whitehead was a Senior
Vice President of Cabot Oil & Gas Corporation (NYSE: COG), where he had
been employed in various capacities since 1980.

In addition, the Board of Directors elected Edward B. Cloues, II, 63,
who has served as a Director since 2001, to the position of Chairman of
the Board, effective today. Robert Garrett, 74, who had served as
Chairman of the Board since 2000, will continue to serve as a Director.
From 1998 until its sale in April 2010, Mr. Cloues was the Chairman and
Chief Executive Officer of K-Tron International, Inc., a publicly-listed
global provider of material handling equipment and systems.

Mr. Dearlove stated, 'It has been a privilege and honor to serve Penn
Virginia for all of these years. I am especially grateful for the
assistance and wise counsel of Mr. Garrett. I am completely confident
that our team, led by Baird and Ed, will guide Penn Virginia to its full
potential.?

Penn Virginia Corporation (NYSE: PVA) is an independent oil and gas
company engaged primarily in the development, exploration and production
of natural gas and oil in various domestic onshore regions including
Texas, Appalachia, the Mid-Continent and Mississippi.

For more information, please visit our website at www.pennvirginia.com.