Summary
EOG Resources, Inc. (EOG) announced a significant leadership transition in its financial and executive team through an 8-K filing dated May 14, 2007. Edmund P. Segner, III, currently Senior Executive Vice President, Chief of Staff, and Principal Financial Officer, will begin a phased retirement, with his retirement officially effective November 30, 2008. This transition involves a change in his officer roles effective June 30, 2007, where he will step down as Principal Financial Officer, executive officer, and director. Mr. Segner plans to increase his teaching commitments at Rice University during this period. Following Mr. Segner's transition, Timothy K. Driggers is appointed Vice President and Chief Financial Officer, effective July 1, 2007, and will assume the role of Principal Financial Officer. Mr. Driggers, currently Vice President and Chief Accounting Officer since 1999, will retain his position as Principal Accounting Officer. Investors should note the change in the company's top financial leadership and the expected review of Mr. Driggers' compensation to reflect his expanded duties.
Key Highlights
- 1Edmund P. Segner, III, Senior Executive Vice President and Principal Financial Officer, is transitioning to retirement.
- 2Mr. Segner's retirement is officially effective November 30, 2008, with a phased transition of his duties starting June 30, 2007.
- 3Effective June 30, 2007, Mr. Segner will no longer serve as Principal Financial Officer, executive officer, or director.
- 4Timothy K. Driggers will assume the role of Vice President and Chief Financial Officer and Principal Financial Officer effective July 1, 2007.
- 5Mr. Driggers will continue to serve as Principal Accounting Officer.
- 6Mr. Driggers has extensive experience with EOG Resources, holding a senior accounting role since October 1999.
- 7Mr. Segner will increase his teaching responsibilities at Rice University during his transition period.