By Maria Armental
Stephen J. Riney, BP PLC's former chief financial officer for
exploration and production, has been appointed Apache Corp.'s
executive vice president and chief financial officer, Apache said
on Thursday.
The personnel change comes just two days after Apache said its
longtime chief executive, Steven Farris, had retired and about a
week after it said it was laying off about 250 employees, or 5% of
its staff.
One of the largest energy companies in the U.S., the
Houston-based company has been under pressure from activist
investor Jana Partners LLC to consider selling or spinning off its
international operations to focus on shale drilling in the U.S.
Mr. Riney, who in his post with BP oversaw accounting, business
development, planning and commercial operations for the upstream
segment, is to take on his new post in February.
The 54-year-old replaces P. Anthony Lannie, who held the post on
a temporary basis, and will stay on as executive vice president and
general counsel.
"His background in the upstream business complements both our
operations and long-term growth objectives," Apache's new chief
executive officer, John J. Christmann IV, said.
Write to Maria Armental at maria.armental@wsj.com
Corrections & Amplifications
Stephen J. Riney has been appointed Apache Corp.'s executive
vice president and chief financial officer. An earlier version of
this article incorrectly spelled his surname as Riley.
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