ConocoPhillips names Andy O'Brien CEO as Ryan Lance retires

ConocoPhillips announced a major leadership transition on Thursday, August 6, with longtime Chief Executive Officer Ryan Lance retiring after 14 years at the helm. He will be succeeded by Chief Financial Officer Andy O’Brien, effective September 1.

The Houston-based oil and gas producer, one of the largest independent upstream companies in the world, stated that Lance will become executive chair of the board in a transitional capacity. The company also named Konnie Haynes-Welsh, currently vice president of finance and controller, as senior vice president and chief financial officer, succeeding O’Brien in that role. All appointments take effect on September 1.

Lance, who has spent 42 years with the company and its predecessors, was credited with transforming ConocoPhillips following its separation from its downstream refining business in 2012. Under his leadership, the company pursued a series of major acquisitions, including the purchases of Concho Resources and Shell’s Permian Basin assets, which cemented its position as a leading operator in North America’s most prolific oil field. The company’s market capitalization grew significantly during his tenure, surpassing that of...