CALGARY -- Mullen Group Co-CEO Pat Powell is resigning from Canada's second-largest trucking company holder, but will remain a director of the Income Fund.
Powell's responsibilities will immediately be assumed by Chairman Murray K. Mullen, and Stephen H. Lockwood, president and co-CEO.

Powell joined the Calgary-based oilfield services giant last year when it merged with Producers Oilfield Services, where Powell held the positions of Chairman of the Board and President.

Prior to joining POS, Powell was the President of H.L. Powell Ltd., a family business that grew into a major oilfield service company in western Canada.

"Pat's enthusiasm and knowledge of the industry will be missed on a day to day basis but with his continued presence on the Board the Fund will continue to benefit from Pat's extensive expertise and customer relations," said Murray Mullen in a release.