USL.NYSE ARCAUnited States 12 Month Oil Fund, Lp

8-K: United States 12 Month Oil Fund Announces Departure of Management Director

Sentiment:

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Robert L. Nguyen resigns as Management Director of United States Commodity Funds LLC, the general partner of United States 12 Month Oil Fund, LP, effective May 31, 2025.

Summary

  • On May 19, 2025, Robert L. Nguyen resigned from his position as a Management Director of United States Commodity Funds LLC (USCF), the general partner of United States 12 Month Oil Fund, LP.
  • His resignation will be effective on May 31, 2025, coinciding with his retirement from USCF as Principal and Management Director.
  • USCF will reduce the number of Management Directors from four to three and will not appoint a successor to Mr. Nguyen.

Sentiment

Score: 5

Explanation: The announcement is neutral, simply reporting a change in management.

Industry Context

Personnel changes are a normal part of business operations in the financial sector. The reduction in board size could be a cost-saving measure or a streamlining of decision-making processes.

Management Changes

RolePrevious PersonNew PersonEffective DateReason
Management DirectorRobert L. NguyenNoneMay 31, 2025Resignation and Retirement

Stakeholder Impact

  • The reduction in the number of Management Directors could impact the decision-making process within USCF, potentially affecting the fund's strategy and performance.

Key Dates

DateDescription
May 19, 2025Robert L. Nguyen tendered his resignation.
May 31, 2025Effective date of Robert L. Nguyen's resignation and retirement.

Keywords

resignation, management director, USCF, United States 12 Month Oil Fund, personnel change

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