XTO Energy Inc. announced the promotion of Keith A. Hutton to Chief Executive Officer of the Company from his position as President. Bob R. Simpson, a founder of the Company in 1986 and Chief Executive Officer since 1993, will continue in his dedicated and active leadership role as the Chairman of the Board and Founder of XTO Energy. Vaughn O. Vennerberg II, Senior Executive Vice President and Chief of Staff, has been promoted to President of the Company. These promotions take effect on December 1, 2008.
"We are proud to announce the promotion of these exceptionally talented, committed and accomplished men to their new executive positions at XTO. This action by our Board officially recognizes the contributions that Keith and Vaughn have made over the past decades, and will make in the future, to the success of XTO Energy," stated Bob R. Simpson, Chairman and Founder. "Going forward, my efforts will remain focused and dedicated to XTO. Our team leads the Company into an era of drill-bit growth unlike any before. Our prolific property base, significantly strengthened by the record acquisitions of 2008, provide visibility for growth and economic strength for years to come. We, as an executive team, will forge ahead together building XTO and creating value for all of us shareholders."
Mr. Hutton, 49, a native Texan and graduate of Texas A&M, has been President of XTO Energy since 2005 and employed by the Company in various engineering positions since 1987. Mr. Vennerberg, 54, from Midwest City, Oklahoma and an alumnus of Oklahoma State University, began his employment at XTO Energy in 1987 as Land Manager. Vaughn has served as Senior Executive Vice President and Chief of Staff since 2005.
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