David Hager, the executive vice president of exploration, is set to succeed Dr. Norrey as Devon’s chief executive. The company also announced the appointment of Duane C. Radtke as vice chairman and John Richels as chief operating officer. Meanwhile, East Devon council chairman Cllr. Hughes will step down due to health reasons. Hager has served in the oil and gas industry for more than three decades in various roles.
David Hager to replace Dr Norrey
The board of Devon Energy Corp. plans to name Dave Hager as the company’s new Chief Executive. Hager, the company’s chief operating officer, joined the company in 2007 as an executive vice president of exploration and production. He rose to the position of COO and was named Devon’s chief executive in 2015. He served as the company’s second-in-command from 2009 to 2015.
Prior to joining Devon, Hager served in high-ranking positions, most recently as COO at Kerr-McGee Corporation. This company focused on the energy sector, including uranium mining, natural gas, crude oil, and other energy products. Hager will bring more than four decades of experience to the company. In addition to his background in petroleum exploration, he holds a bachelor’s degree from Purdue University.
David Hager is currently president and chief executive officer of Devon Energy Corp. He previously served on the company’s board of directors. From 2007 until 2009, he was executive vice president of exploration and production for Devon, and then served as its chief operating officer. He was elected to his current position in August 2015. Hager started his career in the oil and gas industry as a geophysicist at Mobil Corp. He was later promoted to executive vice president of exploration and production for Sun E&P. Later, he worked for Oryx Energy when Sun spun off its refinery operations in 1988.
The board of directors of Devon Energy includes inside and outside directors. Outside directors are independent of the company and monitor the company’s management team to ensure that its shareholders’ interests are served. The inside directors approve and review the company’s budgets and policies. Outside directors provide an unbiased perspective. It is not clear if Dr Norrey will replace Hager as the company’s Chief Executive.
Duane C. Radtke to be vice chairman
At the annual shareholders meeting held this week, the Devon Energy Corp. board of directors elected Duane C. Radtke as vice chairman. He has served on the board of directors since 2010 and currently chairs the Compensation Committee and Reserves Committee. He has 45 years of energy industry experience. Richels plans to step down from the board at the company’s annual meeting in June 2019.
Duane C. Radtke is a veteran energy executive. He was chief executive officer and president of Dominion’s oil and gas business until his retirement from the company in 2007. Before joining Dominion, Radtke worked at Santa Fe Snyder Corp. in Houston and at BP. Radtke has been honored as the 2007 Mr. Spindletop for his charitable work and is a native of Wausau, Wisc. He graduated from the University of Wisconsin.
The appointment of Radtke follows the retirement of John Richels as CEO of Devon. He has served on the company’s board since 2010, and he currently leads the compensation committee. He also serves on the company’s reserves committee. The nomination of Radtke comes as the company prepares for its third quarter cash dividend of nine cents per share. The record date for the dividend is Sept. 13.
John Richels to be new chief operating officer
As CEO of the publicly traded oil and gas company, John Richels has announced his retirement. He will be replaced by Dave Hager, who is currently chief operating officer. Nichols will move into the newly created role of executive chairman. Richels has been with Devon since 1998. He previously served as president of its Canadian subsidiary, Devon Canada Corp. He was appointed CEO in 2010.
A long-time executive, Mr. Richels currently serves on the boards of BOK Financial Corp. and Devon. Prior to joining Devon, he was the President and Chief Financial Officer of Northstar Energy Corporation and Vice-Chairman of the Board of Governors of the Canadian Association of Petroleum Producers. He also holds a law degree from the University of Windsor. This news comes after the company announced its plan to reduce its capital expenditure by 20% to 25% in 2015.
Cllr Hughes to resign as chairman of East Devon council
It is expected that Cllr Hughes will resign as chairman of East Devon council on June 8. There are a number of reasons for this decision, but the most important reason is that the council is in crisis. The Conservative-led government poured PS72m into the council as pandemic relief and has since misused this money to cut services in the area. Sadly, Cllr Hughes has not lived up to expectations and has sparked a wave of protest.
The recent controversy has sparked calls for the resignation of the chairman. The controversial move came as two extraordinary meetings were held on May 28 and 29, during which Cllr Hughes was elected as council leader in place of Cllr Ben Ingham. Arnott said in his acceptance speech that Cllr Hughes should have resigned. He said that he came close to calling for Hughes’ resignation in his own speech.
The next meeting of East Devon council will discuss these proposals. The planning committee will meet on 14 December to consider the proposals. If it is not possible to agree on these plans on this date, a special planning meeting will be called. In the meantime, Cllr Hughes has already stated that he will work with Honiton Town Council on a traffic management plan. In addition, the street market will continue as it is – with parking restrictions in place.
Meanwhile, there is also a new Cabinet, with a new role dedicated to Covid-19 response and recovery. The new cabinet will include five ex-cabinet members and a broad range of experienced people. However, Cllr Hughes is also stepping down as chairman of East Devon council. It is a significant change. It is hoped that the new leadership team will bring in a new and better working environment.
After presenting the budget to the county council, the Mayor was present at a number of public events. The Chairman was at the Evangelical Church Anniversary Service, a Remembrance Day service, a Christmas tree lighting at St Michael’s Church, a Beaver Scouts meeting, and a photograph competition at the Honiton Community College. The Mayor questioned why some businesses did not participate in the Christmas illuminations, although the Chamber of Commerce is encouraging local businesses to participate in these events.