ConocoPhillips has announced a leadership transition, appointing CFO Andy O’Brien as the company’s next President and CEO, effective September 1.
O’Brien, who also currently serves as executive vice president of strategy and commercial, will join the board of directors alongside his appointment.
He succeeds long-serving CEO Ryan Lance, who will retire from his executive roles and step into a transitional position as Executive Chair of the board following a 42-year tenure with the company.
ConocoPhillips also confirmed that Konnie Haynes-Welsh, currently vice president of finance and controller, will step up to become senior vice president and CFO.
Lead Independent Director Robert Niblock paid tribute to Lance’s 14 years at the helm, noting he successfully steered the business following its establishment as an independent pure-play exploration and production company in 2012.
“The strength of the company today and its compelling outlook for the future is a direct result of Ryan’s vision and leadership,” Niblock said, adding that O’Brien brings a strong track record of execution to lead the company into its next growth phase.
O’Brien joined Conoco in 1997 and held several international finance, strategy, and planning positions before joining the executive leadership team in 2022.
His executive responsibilities have spanned Alaska, international operations, LNG, corporate strategy, and mergers and acquisitions.
Speaking on his appointment, O’Brien acknowledged the foundation built under Lance’s leadership and reaffirmed his focus on driving long-term shareholder value.
“My focus will be to build on that momentum, continue raising the bar and unlock even greater value across our company,” O’Brien said.
“Our future is bright, our best years are ahead of us and I can’t wait to get after it with this team.”
Outgoing CEO Ryan Lance expressed full confidence in the incoming executive team, highlighting that ConocoPhillips remains well-positioned to generate competitive returns and meet growing global energy demand.
