Oscar S. Wyatt Jr. will resign as...

Oscar S. Wyatt Jr. will resign as Coastal Corp.’s chief executive, but will continue as chairman of the Houston-based diversified energy company. Wyatt, 65, has recommended that James R. Paul, president and chief operating officer, replace him as chief executive. Wyatt, who founded the company, has been in his position since 1955 and is the company’s largest shareholder, with 4.2% of the company’s common stock and 21.4% of its class A common stock. The board may vote on the appointment of Paul at its next meeting.