G. Steven Farris, chairman, president and chief executive officer of Apache Corporation revealed his retirement effective January 20.
Farris will continue as non-executive chairman of the board until May 1, at which time he will retire from the board, Apache said in a statement.
John J. Christmann, IV, Apache’s executive vice president and chief operating officer — North America, will succeed Farris as president and chief executive officer and will join Apache’s board effective January 20, 2015. Director John Lowe, 54, has been elected to succeed Farris as non-executive chairman.
“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 said.
Farris added that the company has significantly high-graded its portfolio through strategic acquisitions and divestments including the recently announced exit of Apache’s LNG businesses.
Farris joined Apache in 1988 and has served as its chief executive officer since 2002 and as chairman of the board since 2009. In February 2014, Farris also assumed the title of president. He served the company as president and chief operating officer from 1994 to 2009, as senior vice president from 1991 to 1994 and as vice president – exploration and production from 1998 to 1991.
Christmann has been with Apache for 18 years and has served in a variety of leadership roles. Most recently, he served as executive vice president and chief operating officer – North America, where he has been focused on aligning the right people, acreage and strategy to ensure Apache’s future growth and success in North America. As the region vice president – Permian Region, from 2010 through 2013, he established Apache’s Midland office and oversaw a doubling of production during his tenure. From 2004 to 2010, John served as vice president – Business Development where his team executed more than $6 billion in acquisitions and divestments. Prior to that, John held other operational positions within Apache, including as production manager in the company’s Gulf Coast region. Prior to joining Apache, he was employed by Vastar Resources/ARCO Oil and Gas Company in business development, crude oil marketing and various engineering and operational assignments.
Lowe has been a member of Apache’s board since 2013. Lowe spent more than 30 years with ConocoPhillips and predecessor firms, where he held a series of executive positions, including EVP, Exploration & Production; EVP, Commercial; and EVP, Planning, Strategy and Corporate Affairs. Lowe is a member of the board of directors for Phillips 66 and Agrium and a special executive advisor to Tudor, Pickering, Holt & Co.
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