ConocoPhillips Announces Executive Leadership Changes

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HOUSTON – ConocoPhillips (NYSE: COP) today announced the retirement of Jeff Sheets as executive vice president, Finance and chief financial officer after more than 35 years with ConocoPhillips. In conjunction with Sheets’ retirement, the company also announced several executive leadership changes to realign responsibilities. The executive leadership changes are summarized below:

  • Don Wallette, Jr., currently executive vice president, Commercial, Business Development and Corporate Planning, has been named executive vice president, Finance, Commercial and chief financial officer. In this role, Wallette will be responsible for the company’s financial and commercial functions. Wallette has more than 30 years of experience across many aspects of the business and has served in numerous leadership roles.
  • Al Hirshberg, currently executive vice president, Technology and Projects, has been named executive vice president, Production, Drilling and Projects. In this role, Hirshberg will oversee the company’s worldwide operations and will also be responsible for drilling, major projects and the health, safety and environmental function. Hirshberg has more than 30 years of industry experience in a variety of operational, technical and leadership roles.
  • Matt Fox, currently executive vice president, Exploration and Production, has been named executive vice president, Strategy, Exploration and Technology. In this capacity, Fox will be responsible for strategic planning, exploration, business development and technology development. Fox has served in several operational, technical and leadership roles during more than 30 years in industry.

These appointments are effective April 1. Sheets will remain in his current position until the effective date and will remain an employee of ConocoPhillips through May 31 to provide support during the transition of his responsibilities. Wallette, Hirshberg and Fox will continue to report to chairman and chief executive officer Ryan Lance.

“We will miss Jeff’s extensive knowledge and experience, and I want to thank him for his significant contributions throughout his career at ConocoPhillips,” said Ryan Lance, chairman and chief executive officer. “He has been a valued member of the executive leadership team and played an instrumental role in our transformation as an independent exploration and production company,” added Lance. “I also look forward to continued leadership from Don, Al and Matt in their new roles. This team is well prepared to take on the challenges and opportunities for ConocoPhillips at this important time in our industry.”

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About ConocoPhillips

ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 21 countries, $30 billion in annual revenue, $97.5 billion of total assets, and approximately 15,900 employees as of Dec. 31, 2015. Production averaged 1,589 MBOED in 2015, and preliminary proved reserves were 8.2 billion BOE as of Dec. 31, 2015. For more information, go to

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Daren Beaudo (media)

Sidney J. Bassett (investors)

Vladimir R. dela Cruz (investors)


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