Noble Energy Inc. (NYSE: NBL) announced Oct. 21 that its board of directors elected David L. Stover as president and CEO, succeeding Charles D. Davidson as CEO.

Stover's election is consistent with the management succession plan disclosed in April when it was announced that Davidson would be retiring on May 1, 2015.

Davidson will continue to serve as the Houston-based company's chairman until the 2015 Annual Meeting at which time he will be leaving the board of directors.

The board also announced that it intends to elect Stover as chairman of the board immediately following the 2015 Annual Meeting. Stover has previously been serving as the company's president and COO.

The company also announced that Susan M. Cunningham has been elected executive vice president responsible for Noble Energy's global exploration, new ventures, frontier, environmental, health, safety, regulatory and business innovation activities.

In addition, Gary W. Willingham has been elected executive vice president responsible for Noble Energy's global production, drilling, major projects and supply chain activities. Both Cunningham and Willingham will report directly to Stover.