Clayton D. Carter, President and Chief Executive Officer at Freestone Resources, Inc., resigned on January 7, 2016, but will continue to serve as an employee at Freestone in the capacity of Vice President of Operations. Mr. Carter will also remain on the Board of Directors of the company. On January 8, 2016 Freestone announced Michael J. McGhan was appointed by the Freestone Board as the President and Chief Executive Officer of the company, effective immediately.

Mr. McGhan was also appointed to the company's Board, and appointed to serve as Chairman of the Board.