Summary
ConocoPhillips (COP) filed an 8-K report on October 31, 2018, announcing a significant leadership transition. Al Hirshberg, Executive Vice President of Production, Drilling and Projects, will retire effective January 1, 2019, after a period of continued service. This retirement triggers a reshuffling of key executive roles. Effective January 1, 2019, Matt Fox will transition from Executive Vice President of Strategy, Exploration and Technology to the newly created role of Executive Vice President and Chief Operating Officer, overseeing global operations, planning, and technology. Don E. Wallette, Jr., currently Executive Vice President of Finance, Commercial, and CFO, will assume the title of Executive Vice President and Chief Financial Officer, expanding his responsibilities to include IT functions. Investors should note that these appointments are part of a planned succession and the referenced compensation and officer details are incorporated by reference from prior filings.
Key Highlights
- 1Retirement of Al Hirshberg, EVP Production, Drilling and Projects, effective January 1, 2019.
- 2Appointment of Matt Fox as EVP and Chief Operating Officer, effective January 1, 2019.
- 3Expanded responsibilities for Matt Fox to include worldwide exploration and production operations, corporate planning, and technology.
- 4Don E. Wallette, Jr. named EVP and Chief Financial Officer, effective January 1, 2019.
- 5Don E. Wallette, Jr.'s responsibilities will now encompass finance, commercial, acquisitions and divestitures, and information technology.
- 6Information regarding the new roles and compensation for Messrs. Fox and Wallette is incorporated by reference from previous SEC filings (2017 10-K and 2018 Proxy Statement).
- 7No related party transactions involving Messrs. Fox or Wallette have occurred since December 31, 2016.