HOUSTON, Jan. 20, 2015 /PRNewswire/ -- G. Steven Farris, 66, chairman, president and
chief executive officer of Apache Corporation (NYSE, Nasdaq: APA)
has announced his retirement effective January 20, 2015. Mr. Farris will continue
as non-executive chairman of the board until May 1, 2015, at which time he will retire from
the board. John J. Christmann,
IV, 48, Apache's executive vice president and chief
operating officer -- North
America, will succeed Mr. 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.
"It has been a privilege to lead one of the top independent oil
and gas producers and work alongside some of the best professionals
in the business," Mr. Farris said. "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."
Mr. Farris continued, "Over the last several years, we have
significantly high-graded our portfolio through strategic
acquisitions and divestments including the recently announced exit
of our LNG businesses. We have a deeper inventory of North American
opportunities than at any other time in our history, and I am
confident the company is now well positioned to achieve its goal of
becoming the premiere North American resource company. John
is the ideal person to lead Apache going forward."
"Steve has done an exceptional job positioning the company and
moving us toward North America,
where nearly 70% of our production is now based," said Mr.
Christmann. "I am excited about the opportunity to lead Apache
forward and continue the company's commitment to financial
discipline, a low-cost structure, diversity of assets and safe and
environmentally responsible operations."
Commenting on Mr. Farris' retirement, Apache lead director
Charles Pitman said, "I want to
thank Steve for his leadership, dedication and decades of service
to Apache. The board has been focused on CEO succession planning
for some time, and Steve has done an exceptional job grooming
John Christmann and other future
Apache leaders. The board looks forward to working with John and is
delighted to welcome him into this new role."
Mr. 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, Mr.
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.
Mr. 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. Christmann earned his bachelor's
degree in petroleum engineering from the Colorado School of Mines and his MBA from
Southern Methodist University.
Mr. Lowe has been a member of Apache's board since 2013.
Mr. 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. Mr. Lowe is a member
of the board of directors for Phillips 66 and Agrium Inc. and a
special executive advisor to Tudor, Pickering, Holt & Co.
About Apache
Apache Corporation is an oil and gas
exploration and production company with operations in the United States, Canada, Egypt, the United
Kingdom and Australia.
Apache posts announcements, operational updates, investor
information and all press releases on its website,
www.apachecorp.com.
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