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ConocoPhillips announced Thursday that Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, marking a leadership transition at one of the nation's largest independent oil and gas producers.

O'Brien, who also serves as executive vice president for strategy and commercial, will assume the roles effective Sept. 1 and join the company's board of directors. Lance will retire as president and CEO after leading the company for 14 years and will become executive chair of the board in a transitional role.

The company also announced that Konnie Haynes-Welsh, currently vice president of finance and controller, will become senior vice president and chief financial officer, effective Sept. 1.

Lead Independent Director Robert Niblock credited Lance with guiding ConocoPhillips through more than a decade of growth and transformation following the company's separation in 2012.

"He set the course for the newly formed independent ConocoPhillips in 2012, and during his tenure, the company became a recognized leader within the sector as a global upstream company," Niblock said in a statement. He said O'Brien's deep knowledge of the business and track record made him "the right person to lead our company into its next phase."

O'Brien said he plans to build on the company's current position and continue creating value for shareholders.

"I'm honored to lead ConocoPhillips and grateful to Ryan for the strong foundation he has built," O'Brien said. "My focus will be to build on that momentum, continue raising the bar and unlock even greater value across our company."

Lance, who has spent 42 years with the company and its predecessor organizations, said ConocoPhillips is well positioned for its next chapter under O'Brien's leadership.

"Today we have an exceptional portfolio and a world-class team ready to begin the next chapter of our history under Andy's leadership," Lance said. He added that he is confident the company will continue generating industry-leading free cash flow growth and competitive shareholder returns while meeting growing global energy demand.

Andy O'Brien

O'Brien joined Conoco in 1997 and has held finance, planning and strategy positions across the company's global operations. He joined the executive leadership team in 2022 and has overseen the company's Alaska and international businesses, commercial operations, liquefied natural gas, finance, corporate strategy, investor relations, and mergers and acquisitions.

Haynes-Welsh joined ConocoPhillips in 2012 after previously working at PricewaterhouseCoopers and Mariner Energy. She has served in a series of finance and strategy leadership roles, including corporate strategy, compliance, Lower 48 operations and treasury, before becoming vice president of finance and controller.

Photos courtesy ConocoPhillips