Executive Appointments Bared by ConocoPhillips
With the completion of its strategic repositioning targeted on the second quarter of 2012, ConocoPhillips (COP) has revealed a host of appointments to its executive management teams of the two leading energy companies to be formed in the process. The formation of the new ConocoPhillips will feature an independent and pure exploration and production venture. Phillips 66, an independent subsidiary, will be incorporating businesses in refining, marketing, midstream and chemicals.
The designated Chairman and CEO of ConocoPhillips, Ryan Lance, has named three members of his executive management team. Matt Fox was appointed Executive Vice President for exploration and production. He was previously President of ConocoPhillips Canada, and has performed various executive functions in different companies prior to his appointment. Mr. Fox holds a bachelor’s degree in civil engineering and a master’s degree in petroleum engineering.
Alan Hirshberg, on the other hand, would be the Executive Vice President for technology and projects. Hirshberg currently holds the position of senior vice president for planning and strategy of the company and has also worked in various executive and management positions prior to his appointment. Hirshberg holds both bachelor’s and master’s degrees in mechanical engineering.
Don Wallette, Jr. will be occupying the position of Executive Vice President for business development and commercial. Wallette has also performed different senior positions in different companies and holds a bachelor’s degree in chemical engineering.
ConocoPhillips stock has failed to produce a new all-time high with its recent major move that originated at $35.36 (recorded in early 2009). The stock reached the $80 mark – some $15 below the current all-time high, recorded in summer 2008 – but failed to breach it on several occasions during 2011, eventually falling to $62, which represents the current short-term support level.