ConocoPhillips Names Andy O’Brien CEO, Appoints New CFO
ConocoPhillips (NYSE: COP) has announced a major leadership transition that will shape the company’s future as one of the world’s largest independent exploration and production companies. The board of directors has appointed Andy O’Brien as the company’s next president and chief executive officer, succeeding long-serving CEO Ryan Lance. The transition also includes the appointment of Konnie Haynes-Welsh as senior vice president and chief financial officer, while Lance will assume the role of executive chair of the board in a transitional capacity.
The leadership changes will become effective on Sept. 1, 2026, and represent a carefully planned succession designed to ensure continuity while positioning the company for its next stage of growth. O’Brien will also join the ConocoPhillips board of directors as part of his appointment.
Planned Leadership Transition
The announcement marks the conclusion of an era led by Ryan Lance, who has spent more than four decades with the company and served as president and CEO for the past 14 years. Under his leadership, ConocoPhillips evolved into one of the world’s leading independent upstream energy companies, significantly strengthening its asset portfolio, financial position, and operational performance.
The board emphasized that the transition reflects a long-term succession strategy aimed at maintaining leadership continuity while preparing the company for future opportunities in a rapidly evolving global energy market.
As executive chair, Lance will continue supporting the organization during the transition, providing strategic guidance while allowing O’Brien to assume day-to-day leadership responsibilities.
Board Praises Ryan Lance’s Legacy
Lead Independent Director Robert Niblock recognized Lance’s decades of service and his impact on the company’s transformation.
According to Niblock, Lance successfully guided the newly independent ConocoPhillips after the company’s separation in 2012, helping establish it as a globally recognized upstream energy producer with a disciplined operating model and a strong financial foundation.
During his tenure, the company strengthened its global portfolio through strategic acquisitions, disciplined capital allocation, operational excellence, and consistent shareholder returns. These efforts enabled ConocoPhillips to build one of the industry’s strongest collections of producing assets while maintaining financial resilience through varying commodity price cycles.
Niblock noted that the company’s strong position today and its promising long-term outlook are direct results of Lance’s vision, leadership, and commitment to disciplined execution.
The board also expressed confidence that O’Brien possesses the experience and leadership qualities needed to continue building on that success.
Andy O’Brien to Lead the Next Chapter
Andy O’Brien currently serves as chief financial officer and executive vice president for Strategy and Commercial, giving him extensive involvement across nearly every aspect of the company’s operations and long-term planning.
Following his appointment, O’Brien will oversee ConocoPhillips’ worldwide exploration, development, production, commercial strategy, and financial performance.
In his comments following the announcement, O’Brien described the appointment as a tremendous honor and expressed appreciation for the foundation established under Ryan Lance’s leadership.
He noted that ConocoPhillips enters this new chapter with one of the industry’s strongest asset portfolios, an experienced workforce, and a culture focused on operational excellence and disciplined execution.
O’Brien said his priorities include building upon the company’s momentum, raising performance standards even further, and creating additional value across the organization.
He also emphasized his confidence in the company’s future, stating that ConocoPhillips is well positioned for continued success as global energy demand continues to grow.
Ryan Lance Reflects on His Career
Ryan Lance described his 42-year career with the company as an extraordinary journey spent alongside some of the energy industry’s most talented professionals.
He said leading ConocoPhillips over the past 14 years had been a special privilege and expressed confidence that the organization is well prepared for its next chapter.
Lance highlighted the company’s exceptional portfolio of assets and experienced workforce, stating that these strengths provide an excellent foundation for future growth under O’Brien’s leadership.
He also credited O’Brien with helping shape the company’s strategy over recent years and said he expects the leadership team to continue executing with discipline while delivering strong financial performance and shareholder value.
Lance added that he believes the company will continue generating industry-leading free cash flow growth while helping meet increasing global energy demand.
Extensive Experience Across the Business
O’Brien brings nearly three decades of experience within ConocoPhillips to his new role.
He began his career with Conoco in 1997 and steadily advanced through numerous leadership positions spanning finance, planning, commercial operations, and corporate strategy.
Over the years, he gained experience across multiple international regions, providing him with broad operational knowledge and strategic insight into the company’s global business.
His responsibilities expanded significantly after joining the executive leadership team in 2022.
Since then, O’Brien has overseen several critical business areas, including:
- Finance
- Commercial operations
- Corporate strategy
- Investor relations
- Liquefied natural gas (LNG)
- Mergers and acquisitions
- Alaska operations
- International business
This broad leadership experience has positioned him to understand both the operational and financial aspects of the organization while helping shape many of the company’s strategic initiatives.
Konnie Haynes-Welsh Becomes Chief Financial Officer
Alongside O’Brien’s promotion, ConocoPhillips announced that Konnie Haynes-Welsh will become senior vice president and chief financial officer.
She currently serves as vice president, Finance and Controller, and has played an important role in strengthening the company’s financial organization.
Haynes-Welsh joined ConocoPhillips in 2012 and has steadily advanced through several increasingly senior leadership positions.
Her career at the company has included responsibilities across:
- Corporate finance
- Business strategy
- Compliance
- Lower 48 operations
- Treasury
- Financial reporting
- Corporate planning
Before joining ConocoPhillips, Haynes-Welsh built experience in public accounting at PricewaterhouseCoopers and later worked at Mariner Energy, giving her both consulting and industry expertise.
Her promotion reflects the company’s commitment to developing internal leadership talent while ensuring continuity in financial management.
Strong Internal Succession Planning
One notable aspect of the announcement is that all three leadership appointments come from experienced executives with deep institutional knowledge.
Rather than recruiting externally, ConocoPhillips has selected leaders who have spent many years helping shape the company’s strategy, operations, and financial discipline.
This internal succession approach reduces organizational disruption while allowing strategic priorities to continue uninterrupted.
It also reflects the company’s long-term emphasis on leadership development and succession planning.
Positioned for Continued Growth
The leadership transition comes as ConocoPhillips continues executing its long-term strategy focused on disciplined investment, operational efficiency, portfolio optimization, and shareholder returns.
The company maintains a globally diversified portfolio of conventional and unconventional oil and natural gas assets across North America, Europe, Asia-Pacific, and other international regions.
Its strategy remains centered on producing competitively priced energy while maintaining financial flexibility, investing in high-return opportunities, and delivering sustainable value for shareholders.
As energy demand continues evolving worldwide, ConocoPhillips expects to leverage its scale, technical expertise, and operational capabilities to remain a leading independent upstream producer.
With Andy O’Brien preparing to assume the chief executive role, Ryan Lance supporting the transition as executive chair, and Konnie Haynes-Welsh taking over as chief financial officer, ConocoPhillips begins a new leadership chapter built on continuity, experienced management, and a clear focus on long-term growth. The company believes the transition will position it to continue executing its strategy, generating competitive shareholder returns, and meeting the world’s growing demand for reliable energy while maintaining the disciplined operating approach that has defined its success over the past decade.
Source Link: https://www.businesswire.com/
