Oliver Leavitt has been replaced as chairman of Arctic Slope Regional Corp. amid dropping profits and shareholder complaints.

Leavitt was at the end of his term but shareholders took his replacement as a sign that their complaints are being heard. His successor is Rex Rock, ASRC's vice chairman.

ASRC reported revenues of $1 billion but a profit of less than $5 million last year, representing a 71 percent drop in profits from 2002.

Get the Story:
Rock follows Leavitt as ASRC chair (The Anchorage Daily News 7/1)

Relevant Links:
Arctic Slope Regional Corporation - http://www.asrc.com

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