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January 17, 2007 9:30 AM, EST

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Canadian transportation firm Mullen Group Income Fund’s co-chief executive officer, Pat Powell, tendered his resignation, the company said ate Tuesday. Powell, who will remain a director, joined Mullen last June with the company’s merger with Producers Oilfield Services, where he held the positions of chairman and president.Powell’s responsibilities will be assumed immediately by Murray Mullen, chairman, and Stephen Lockwood, Co-CEO, Calgary, Alberta-based Mullen said.Mullen Group Income Fund is ranked No. 95 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.