On Jan. 20, Apache Corp. (NYSE: APA) said that G. Steven Farris announced his retirement as chairman, president and CEO. The retirement became effective that day. He will remain as nonexecutive chairman of the board until May 1, and then will retire from the board, the company added.
John J. Christmann IV will replace Farris as president and CEO, and joined the board effective Jan. 20, the company noted. Christmann is the executive vice president and COO-North America.
Director John Lowe will replace Farris as nonexecutive chairman of the board, the company said.
"It has been a privilege to lead one of the top independent oil and gas producers and work alongside some of the best professionals in the business," Farris said, adding, "after more than 25 years with the company and 14 years as CEO, it is time to hand over the reins to a new generation of leaders. I look forward to working with John, the board and the management team over the next few months to ensure a smooth transition."
Farris joined Apache in 1988, becoming CEO in 2002 and a board chairman in 2009. He was president and COO from 1994 to 2009, senior vice president from 1991 to 1994 and vice president- exploration and production from 1998 to 1991.
Christmann has worked for Apache for 18 years. He was region vice president for the Permian region from 2010 through 2013, the company said. From 2004 to 2010, Christmann was vice president of business development where his team executed more than $6 billion in acquisitions and divestments. Prior to joining Apache, he worked for Vastar Resources/ARCO Oil and Gas Co.
Christmann has a bachelor's degree in petroleum engineering from the Colorado School of Mines and a master of business administration degree from Southern Methodist University.
Lowe has been on the board since 2013, Apache said. He spent more than 30 years with ConocoPhillips and predecessor firms
He is a member of the board of directors at Phillips 66 and Agrium Inc. He is also a special executive adviser to Tudor, Pickering, Holt & Co.
Houston-based Apache Corp. explores and produces oil and natural gas around the world.
Additionally, Devon Energy Corp.’s (NYSE: DVN) John Richels said Dec. 3 that he was retiring as president and CEO of that company, effective July 31, 2015, and Apache just cut 5% of its employees.
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