ConocoPhillips names Andy O'Brien CEO as Ryan Lance shifts to executive chairman
The oil producer will elevate its CFO to president and CEO on Sept. 1, 2026, while Konnie Haynes-Welsh becomes CFO as second-quarter profit rose to $3.9 billion.
ConocoPhillips said chief financial officer Andy O'Brien will become president and CEO on Sept. 1, 2026, succeeding Ryan Lance, who will retire from the top role and become executive chairman, described in a later roundup as transitional executive chair. The Houston-based company also said Konnie Haynes-Welsh, currently vice president of finance and controller, will succeed O'Brien as senior vice president and CFO. The succession announcement came as ConocoPhillips reported second-quarter profit of $3.9 billion, up from $2 billion a year earlier, with the report linking the increase to higher oil prices triggered by the Iran war. The company, the largest independent U.S. oil and gas producer, has a market capitalization of about $140 billion. O'Brien joined ConocoPhillips in 1997 as a financial analyst in England and has held more than a dozen roles across finance, strategy, planning, operations and commercial functions. He has been part of the executive leadership team since 2022. Executive search firm Crist Kolder Associates said the rise in CFO-to-CEO appointments across Fortune 500 and S&P 500 companies underscores a broader succession trend.
- Executive chairman: A board leadership role typically held after a CEO transition, with responsibilities focused on governance and strategic oversight rather than day-to-day management.
- CFO-to-CEO succession: A leadership transition in which a chief financial officer is promoted to chief executive officer, often as part of a planned internal succession process.
- SEC compliance: Adherence to U.S. Securities and Exchange Commission reporting and disclosure requirements for public companies.