ConocoPhillips Announces Leadership Succession

ConocoPhillips has announced a “planned leadership succession” in a statement posted on its website.

The company revealed that Andy O’Brien, Chief Financial Officer and Executive Vice President, Strategy and Commercial, will succeed Ryan Lance as President and CEO. O’Brien will join the board of directors with his appointment, ConocoPhillips highlighted.

Lance will retire as President and CEO and become Executive Chair of the Board of Directors in a transitional role “following a distinguished and impactful career”, ConocoPhillips noted. Konnie Haynes-Welsh, currently Vice President, Finance and Controller, will become Senior Vice President and Chief Financial Officer, the company revealed in the statement.

These appointments will be effective September 1, 2026, according to the statement.

Lance, who has served as Chairman and CEO of ConocoPhillips since 2012, is a petroleum engineer with four decades of oil and natural gas industry experience in senior management and technical positions with ConocoPhillips, predecessor Phillips Petroleum, and various divisions of ARCO, a bio page on the ConocoPhillips site highlights.

His past ConocoPhillips executive assignments included responsibility for international exploration and production, regional responsibility at various times for Asia, Africa, the Middle East and North America, and responsibility for technology, major projects, downstream strategy, integration, and specialty functions, the site states.

The site also points out that Lance is the former chairman of the American Petroleum Institute (API) and currently serves on its Executive Committee, as well as being Chair of the National Petroleum Council and on the Business Roundtable Board.

O’Brien began his career with Conoco in 1997 and held numerous finance, planning, and strategy roles of increasing responsibility across the globe before becoming a member of the company’s executive leadership team in 2022, ConocoPhillips’ site notes. Since then, he has served in leadership roles overseeing the company’s Alaska and international businesses, commercial, LNG, finance, corporate strategy, Investor Relations and mergers and acquisitions, it adds.

ConocoPhillips’ statement noted that Haynes-Welsh joined the company in 2012 and held leadership roles of increasing responsibility across finance and strategy, including positions in corporate strategy, compliance, and Lower 48, and later served as treasurer before becoming vice president, Finance and Controller. Prior to joining ConocoPhillips, she held roles with PricewaterhouseCoopers and Mariner Energy, the statement highlighted.

“On behalf of the board, I want to thank Ryan for 14 years of exceptional leadership and more than 40 years of dedicated service to the company,” Robert Niblock, Lead Independent Director, said in the statement.

“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,” he added.

“The strength of the company today and its compelling outlook for the future is a direct result of Ryan’s vision and leadership,” he continued.

“We are also pleased to appoint Andy as president and CEO. He is the right person to lead our company into its next phase,” he went on to state.

“He brings a deep knowledge of our business, a strong track record of execution and has played a key role in making ConocoPhillips successful. We look forward to welcoming him to the board,” Niblock concluded.

In the statement, O’Brien said, “I’m honored to lead ConocoPhillips and grateful to Ryan for the strong foundation he has built”.

“Ryan has helped put the company in an exceptional position, with one of the best asset bases in the industry and a culture that delivers,” he added.

“My focus will be to build on that momentum, continue raising the bar and unlock even greater value across our company. Our future is bright, our best years are ahead of us and I can’t wait to get after it with this team,” he said.

Lance said in the statement, “I’ve enjoyed an amazing 42-year career alongside some of the most talented people in the industry, and leading the company for the past 14 years has been a special privilege”.

“Today we have an exceptional portfolio and a world-class team ready to begin the next chapter of our history under Andy’s leadership,” he added.

“Andy has played a significant role in shaping our company and strategy and I’m excited to see him, his leadership team and our employees build on our track record of success,” he continued.

“I have complete confidence they will continue executing with discipline, generating peer-leading free cash flow growth and delivering competitive returns to shareholders, while meeting the world’s growing energy demand,” he went on to state.

In a statement posted on his X page commenting on ConocoPhillips’ “planned leadership succession”, Mike Sommers, API President and CEO, said Lance is “an industry legend”.

“His extraordinary leadership, bold vision and unwavering commitment have left an indelible mark on our industry - and especially on those of us who had the privilege to work alongside him, including during his service as chairman of API’s Board,” he added.

“Congratulations, Ryan, on a remarkable tenure, and I look forward to working with Andy O’Brien as he leads ConocoPhillips forward,” he continued.

To contact the author, email andreas.exarheas@rigzone.com