The board of directors of Petroleum & Resources Corporation elected James P. Haynie as president of the fund, succeeding Nancy J. F. Prue, who was appointed as executive vice president, director of shareholder communications. Prior to being elected president, Haynie served as executive vice president since 2013 and a member of the fund's portfolio management team. In addition, Haynie was president of The Adams Express Company.

He will continue to serve as an executive vice president of Adams Express and a member of it's portfolio management team. Haynie has over 25 years of experience in equity investing and the energy sector. Prue will assume the position of executive vice president, director of shareholder communications for both Petroleum & Resources and Adams Express.

In this newly-formed role, she will report directly to Stoeckle.