Concho Resources Inc. (NYSE: CXO) executed several changes to its management team, including the retirement of its COO Joe Wright.
Wright, who has been appointed to Concho's board of directors, announced his intention to retire as an officer of the Midland, Texas-based company in January 2019, according to a May 18 release.
At that time, Will Giraud, executive vice president, will succeed Wright as COO. Effective immediately, Giraud is responsible for Concho's four asset teams as well as business development and strategy.
"Joe has played an instrumental role in building the culture and success of Concho since inception," Tim Leach, Concho's board chairman and CEO, said in a statement. "Though his daily presence will be missed after his retirement, I look forward to continued leadership from Joe in his new role as a board member."
In addition, Jack Harper, currently executive vice president and CFO, has been named president and CFO.
The company also announced the promotions of Gayle Burleson, Travis Counts, Price Moncrief, Erick Nelson and Brenda Schroer. As a result of these promotions, Concho's executive management team now consists of:
- Tim Leach, chairman of the board and CEO;
- Jack Harper, president and CFO;
- Joe Wright, executive vice president and COO;
- Will Giraud, executive vice president;
- Gayle Burleson, senior vice president of business development;
- Travis Counts, senior vice president, general counsel and corporate secretary;
- Steve Guthrie, senior vice president of business operations and engineering;
- Price Moncrief, senior vice president of finance and strategy;
- Erick Nelson, senior vice president of operations and production; and
- Brenda Schroer, senior vice president, chief accounting officer and treasurer.
Additional leadership changes include the promotion of James Caputo, presently director of business development, to vice president of business development, and the promotion of Chris Spies, presently chief geoscientist, to vice president of geoscience and technology.
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