ConocoPhillips Announces Future Executive Appointments
ConocoPhillips (NYSE:COP) today announced several future appointments to
the executive management teams of the two leading energy companies that
will be created when ConocoPhillips completes its strategic
repositioning, expected in the second quarter of 2012.
The new ConocoPhillips will be an independent, pure-play exploration and
production company. Phillips 66, the independent downstream company,
will have leading businesses in refining, marketing, midstream and
chemicals. The designated chief executive officers for each company are
creating new leadership teams to support the independent companies.
Ryan Lance, designated chairman and chief executive officer of the
future ConocoPhillips, has selected three members of his executive
management team.
Matt Fox will become executive vice president, exploration and
production. Fox is a former president of ConocoPhillips Canada. He has
held senior positions for ConocoPhillips in its Canadian Oil Sands,
U.K., U.S. and Middle East divisions. Most recently, he was executive
vice president, international, for Nexen Inc. Fox has a bachelor′s
degree in civil engineering, and a master′s degree in petroleum
engineering.
Alan J. Hirshberg will become executive vice president, technology and
projects. Hirshberg is currently senior vice president, planning and
strategy, for ConocoPhillips. He has also held executive positions at
ExxonMobil, overseeing production operations and major development
projects in the U.S., Europe, Africa, and Central and Southeast Asia. He
holds bachelor′s and master′s degrees in mechanical engineering.
Don E. Wallette Jr. will become executive vice president, business
development and commercial. Wallette is currently president, Asia
Pacific, for ConocoPhillips. He has also held senior positions for
ConocoPhillips in the U.S., U.K., Norway, Russia and Caspian divisions.
Wallette has a bachelor′s degree in chemical engineering.
Fox will join ConocoPhillips in January 2012 and serve in an interim
role, reporting to Lance, until the repositioning is complete. Hirshberg
and Wallette will continue in their current positions until the
transaction is finalized.
Greg Garland, designated chairman and chief executive officer of
Phillips 66, has named a member of his executive management team.
Lawrence M. Ziemba will become executive vice president, refining with
responsibility for major projects and procurement. Ziemba is currently
president, global refining, for ConocoPhillips. He has served in a
number of downstream and refining executive positions for
ConocoPhillips, its predecessor Phillips, Tosco and Unocal. He has a
bachelor′s degree in mechanical engineering and a master′s degree in
business administration.
Ziemba will continue in his current role until the repositioning is
complete.
Additional executive management positions for the two companies will be
announced at a later date.
As previously announced, ConocoPhillips Chairman and Chief Executive
Officer Jim Mulva plans to retire once the repositioning is complete.
Two other current executives plan to retire:
E.L. (Gene) Batchelder, senior vice president and chief administrative
officer.
W.C.W. Chiang, senior vice president, refining, marketing,
transportation and commercial.
Batchelder and Chiang will remain in their current roles until the
repositioning is complete.
ConocoPhillips′ repositioning into two independent companies is subject
to market conditions, customary regulatory approvals, the receipt of an
affirmative ruling from the U.S. Internal Revenue Service, the execution
of separation and intercompany agreements and final board approval.
ConocoPhillips is an integrated energy company with interests around the
world. Headquartered in Houston, the company had approximately 29,700
employees, $155 billion of assets, and $247 billion of annualized
revenues as of Sept. 30, 2011. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE 'SAFE HARBOR' PROVISIONS
OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements.
Forward-looking statements relate to future events and anticipated
results of operations, business strategies, and other aspects of our
operations or operating results. In many cases you can identify
forward-looking statements by terminology such as 'anticipate,'
'estimate,' 'believe,' 'continue,' 'could,' 'intend,' 'may,' 'plan,'
'potential,' 'predict,' 'should,' 'will,' 'expect,' 'objective,'
'projection,' 'forecast,' 'goal,' 'guidance,' 'outlook,' 'effort,'
'target' and other similar words. However, the absence of these words
does not mean that the statements are not forward-looking. Where, in any
forward-looking statement, the company expresses an expectation or
belief as to future results, such expectation or belief is expressed in
good faith and believed to have a reasonable basis. However, there can
be no assurance that such expectation or belief will result or be
achieved. The actual results of operations can and will be affected by a
variety of risks and other matters including, but not limited to,
changes in commodity prices and refining and marketing margins; changes
in expected levels of oil and gas reserves or production; operating
hazards, drilling risks, unsuccessful exploratory activities;
difficulties in developing new products and manufacturing processes;
unexpected cost increases or difficulties maintaining or improving
company manufacturing or refining facilities; unexpected difficulties in
manufacturing, transporting or refining synthetic crude oil;
international monetary conditions; potential liability for remedial
actions under existing or future environmental regulations; potential
liability resulting from pending or future litigation; limited access to
capital or significantly higher cost of capital related to illiquidity
or uncertainty in the domestic or international financial markets; and
general domestic and international economic and political conditions; as
well as changes in tax, environmental and other laws applicable to our
business. Other factors that could cause actual results to differ
materially from those described in the forward-looking statements
include other economic, business, competitive and/or regulatory factors
affecting our business generally as set forth in our filings with the
Securities and Exchange Commission (SEC). Unless legally required,
ConocoPhillips undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
ConocoPhillips
Aftab Ahmed, 281-293-4138 (media)
aftab.ahmed@conocophillips.com
or
Clayton
Reasor, 212-207-1996 (investors)
c.c.reasor@conocophillips.com
