United States oil and gasoline producer Devon Vitality Corp. has named John Bethancourt as impartial chair of its board efficient July 1. He takes over from Barbara Baumann.
Bethancourt joined Devon’s board in 2014 when he departed from Chevron Corp. At present, he chairs the board’s reserves committee whereas serving on the board’s compensation committee. Barbara Baumann will stay on the board and be a part of the compensation committee and governance, environmental, and public coverage committee, the corporate mentioned in a press launch.
The change comes amid Baumann’s appointment as chair of the impartial board of trustees of the Putnam Mutual Funds. It was a dedication anticipated when Baumann was named Devon’s chair of the board in 2022, Devon mentioned.
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“John’s appointment continues the corporate’s governance custom of separating the chair and CEO roles. Over the previous decade, John’s management, huge business experience and strategic perception have performed a pivotal function in shaping Devon into the corporate we’re immediately”, Rick Muncrief, Devon’s president and CEO, mentioned. “I’m assured in John’s capabilities and am desperate to collaborate with him as we proceed to execute on the tenets of our disciplined technique”.
Muncrief added, “As chair of our board, Barbara has been an distinctive strategic accomplice of mine. Her unwavering dedication to main governance and inclusiveness practices has set a excessive commonplace for us all”.
“I’m grateful that Barbara will proceed to deliver her judgment, long-time vitality business expertise and retail investor views to our future board deliberations”, Muncrief mentioned.
Bethancourt had served as govt vp for know-how and providers at Chevron. He oversaw the corporate’s environmental, well being and security efforts, main mission administration, procurement and mining operations, in keeping with Devon. He started his profession in 1974 with Getty Oil Co. and joined Texaco Inc. following a 1984 merger.
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