{"id":793278,"date":"2024-12-09T06:58:29","date_gmt":"2024-12-09T11:58:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\/"},"modified":"2024-12-09T06:58:29","modified_gmt":"2024-12-09T11:58:29","slug":"devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\/","title":{"rendered":"Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief"},"content":{"rendered":"<div class=\"mw_release\">\n<p>OKLAHOMA CITY, Dec.  09, 2024  (GLOBE NEWSWIRE) &#8212; Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the Board of Directors of Devon Energy Corporation (NYSE: DVN), effective March 1, 2025. The board of directors has appointed Clay Gaspar, currently Devon\u2019s Chief Operating Officer, to succeed Muncrief as President and CEO and as a member of the board, effective March 1, 2025.<\/p>\n<p>\u201cRick\u2019s vision and stewardship have delivered significant value to Devon shareholders since the merger with WPX Energy in 2021,\u201d said John Bethancourt, Devon\u2019s board chair. \u201cRick\u2019s contributions to the oil and gas business go well beyond Devon. He is a 45-year veteran and recognized leader in our industry successfully serving multiple companies in technical and management roles. He has also held leadership positions in numerous industry trade groups and civic organizations. On behalf of Devon\u2019s employees and the board of directors, I would like to thank Rick for his service to Devon and our industry throughout his long-distinguished career.\u201d<\/p>\n<p>&#8220;Clay\u2019s selection as our next CEO is the result of a comprehensive succession planning process conducted by our board,\u201d said Bethancourt. \u201cHe is an experienced leader, with the vision and industry expertise to guide Devon as we move forward. We are excited to collaborate with Clay to build upon the past success of Devon and create additional long-term value for our shareholders.\u201d<\/p>\n<p>\u201cIt has been an honor to lead Devon over the last four years and WPX Energy for the seven years prior as well. I believe the company is nicely positioned for the future. Our portfolio of assets is second to none and I am confident our experienced leadership team and talented employees will take the company to greater heights in the future,\u201d said Muncrief. \u201cClay is a proven leader with significant experience in all aspects of our business and I couldn\u2019t be more excited about Devon\u2019s future with him in the CEO role.\u201d<\/p>\n<p>Gaspar said, \u201cI am excited and humbled for the opportunity to lead such an outstanding organization. I want to thank Rick for his leadership and mentorship. We will remain focused on operating excellence across our portfolio of assets to deliver competitive and sustainable returns for our shareholders. Devon\u2019s\u00a0strategic objectives will remain the same while we leverage this opportunity to raise the bar.\u201d\u00a0<\/p>\n<p>Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is a leading U.S.-based independent oil and gas producer and is included in the S&amp;P 500 Index. For additional information, visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-wzx69NB4N2lZlOuWJeiZWN-DxtRCPhyu5aCsEmLuqTu-VBzDa9BtbMVH0NplTCsxcgTxAGcxjUVBWpIYi2vASwjhe9iNjSaEB2RUVhqeyg=\" rel=\"nofollow\" target=\"_blank\">www.devonenergy.com<\/a>.<\/p>\n<p>\n        <strong>Investor Contacts<\/strong><br \/>\n        <br \/>Rosy Zuklic, 405-552-7802<br \/>Chris Carr, 405-228-2496<\/p>\n<p>\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Michelle Hindmarch, 405-552-7460<\/p>\n<p>This press release was published by a CLEAR\u00ae Verified individual.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxNTk5NSM2NjI4MjIyIzIwMDQ1NDQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/NDg4OGVlMGQtZjUyMS00ZTk2LWFjNDktOWZiMGQzOGM2NWYwLTEwMTYxMTc=\/tiny\/Devon-Energy-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>OKLAHOMA CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) &#8212; Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the Board of Directors of Devon Energy Corporation (NYSE: DVN), effective March 1, 2025. The board of directors has appointed Clay Gaspar, currently Devon\u2019s Chief Operating Officer, to succeed Muncrief as President and CEO and as a member of the board, effective March 1, 2025. \u201cRick\u2019s vision and stewardship have delivered significant value to Devon shareholders since the merger with WPX Energy in 2021,\u201d said John Bethancourt, Devon\u2019s board chair. \u201cRick\u2019s contributions to the oil and gas business go well beyond Devon. He is a 45-year veteran and recognized leader in our industry &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-793278","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OKLAHOMA CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) &#8212; Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the Board of Directors of Devon Energy Corporation (NYSE: DVN), effective March 1, 2025. The board of directors has appointed Clay Gaspar, currently Devon\u2019s Chief Operating Officer, to succeed Muncrief as President and CEO and as a member of the board, effective March 1, 2025. \u201cRick\u2019s vision and stewardship have delivered significant value to Devon shareholders since the merger with WPX Energy in 2021,\u201d said John Bethancourt, Devon\u2019s board chair. \u201cRick\u2019s contributions to the oil and gas business go well beyond Devon. He is a 45-year veteran and recognized leader in our industry &hellip; Continue reading &quot;Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-09T11:58:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxNTk5NSM2NjI4MjIyIzIwMDQ1NDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-president-and-ceo-rick-muncrief-to-retire-march-1-2025-clay-gaspar-devon-chief-operating-officer-to-succeed-muncrief\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; 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The board of directors has appointed Clay Gaspar, currently Devon\u2019s Chief Operating Officer, to succeed Muncrief as President and CEO and as a member of the board, effective March 1, 2025. \u201cRick\u2019s vision and stewardship have delivered significant value to Devon shareholders since the merger with WPX Energy in 2021,\u201d said John Bethancourt, Devon\u2019s board chair. \u201cRick\u2019s contributions to the oil and gas business go well beyond Devon. 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