Diamondback Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team and Board of Directors
Diamondback Energy (NASDAQ: FANG) announced a major leadership transition plan. Travis D. Stice will step down as CEO at the 2025 Annual Meeting of Stockholders and transition to Executive Chairman through 2026. Kaes Van't Hof, current President, will become CEO and join the Board of Directors in 2025.
Additionally, Jere W. Thompson III has been promoted to Executive Vice President and Chief Financial Officer, effective immediately. David L. Houston will retire from the Board of Directors at the 2025 Annual Meeting.
Under Stice's 14-year leadership, Diamondback transformed from a small-cap oil producer in 2012 into one of North America's largest oil and gas companies. Van't Hof indicated that the company will continue its successful strategy of acquire and exploit, focusing on best-in-class execution, low-cost operations, and transparency.
Diamondback Energy (NASDAQ: FANG) ha annunciato un importante piano di transizione della leadership. Travis D. Stice si dimetterà da CEO nella Riunione Annuale degli Azionisti del 2025 e passerà a Presidente Esecutivo fino al 2026. Kaes Van't Hof, attuale Presidente, diventerà CEO e si unirà al Consiglio di Amministrazione nel 2025.
Inoltre, Jere W. Thompson III è stato promosso a Vice Presidente Esecutivo e Direttore Finanziario, con effetto immediato. David L. Houston si ritirerà dal Consiglio di Amministrazione nella Riunione Annuale del 2025.
Sotto la leadership di Stice, durata 14 anni, Diamondback si è trasformata da produttore di petrolio a bassa capitalizzazione nel 2012 in una delle più grandi aziende petrolifere e del gas del Nord America. Van't Hof ha indicato che l'azienda continuerà la sua strategia di acquisizione e sfruttamento, concentrandosi su un'esecuzione di alta qualità, operazioni a basso costo e trasparenza.
Diamondback Energy (NASDAQ: FANG) anunció un importante plan de transición de liderazgo. Travis D. Stice dejará su cargo como CEO en la Junta Anual de Accionistas de 2025 y pasará a ser Presidente Ejecutivo hasta 2026. Kaes Van't Hof, actual Presidente, se convertirá en CEO y se unirá a la Junta Directiva en 2025.
Además, Jere W. Thompson III ha sido ascendido a Vicepresidente Ejecutivo y Director Financiero, con efecto inmediato. David L. Houston se retirará de la Junta Directiva en la Junta Anual de 2025.
Bajo el liderazgo de Stice durante 14 años, Diamondback se transformó de un productor de petróleo de pequeña capitalización en 2012 en una de las empresas de petróleo y gas más grandes de América del Norte. Van't Hof indicó que la empresa continuará su exitosa estrategia de adquisición y explotación, enfocándose en una ejecución de primera clase, operaciones de bajo costo y transparencia.
다이아몬드백 에너지 (NASDAQ: FANG)는 주요 리더십 전환 계획을 발표했습니다. 트래비스 D. 스타이스는 2025년 주주 연례 회의에서 CEO직에서 물러나고 2026년까지 집행 의장으로 전환합니다. 케이스 반트 호프, 현재 사장,은 2025년에 CEO가 되고 이사회에 합류할 것입니다.
또한, 제레 W. 톰프슨 III가 즉시 발효되는 집행 부사장 겸 최고 재무 책임자로 승진했습니다. 데이비드 L. 휴스턴은 2025년 주주 연례 회의에서 이사회에서 은퇴할 것입니다.
스타이스의 14년 리더십 아래에서 다이아몬드백은 2012년 소형 자본의 석유 생산업체에서 북미 최대의 석유 및 가스 회사 중 하나로 변모했습니다. 반트 호프는 회사가 최고 수준의 실행, 저비용 운영 및 투명성에 중점을 두고 인수 및 개발의 성공적인 전략을 계속할 것이라고 언급했습니다.
Diamondback Energy (NASDAQ: FANG) a annoncé un plan majeur de transition de leadership. Travis D. Stice démissionnera de son poste de PDG lors de l'Assemblée Annuelle des Actionnaires en 2025 et deviendra Président Exécutif jusqu'en 2026. Kaes Van't Hof, président actuel, deviendra PDG et rejoindra le Conseil d'Administration en 2025.
De plus, Jere W. Thompson III a été promu Vice-Président Exécutif et Directeur Financier, avec effet immédiat. David L. Houston se retirera du Conseil d'Administration lors de l'Assemblée Annuelle de 2025.
Sous la direction de Stice pendant 14 ans, Diamondback s'est transformé d'un producteur de pétrole à petite capitalisation en 2012 en l'une des plus grandes entreprises pétrolières et gazières d'Amérique du Nord. Van't Hof a indiqué que l'entreprise poursuivra sa stratégie réussie d'acquisition et d'exploitation, en se concentrant sur une exécution de premier ordre, des opérations à faible coût et la transparence.
Diamondback Energy (NASDAQ: FANG) hat einen bedeutenden Plan für den Führungswechsel angekündigt. Travis D. Stice wird beim Jahrestreffen der Aktionäre 2025 als CEO zurücktreten und bis 2026 zum Executive Chairman wechseln. Kaes Van't Hof, derzeit Präsident, wird 2025 CEO und Mitglied des Aufsichtsrats.
Zusätzlich wurde Jere W. Thompson III mit sofortiger Wirkung zum Executive Vice President und Chief Financial Officer befördert. David L. Houston wird beim Jahrestreffen der Aktionäre 2025 aus dem Aufsichtsrat ausscheiden.
Unter der 14-jährigen Führung von Stice hat sich Diamondback von einem kleinen Ölproduzenten im Jahr 2012 in eines der größten Öl- und Gasunternehmen Nordamerikas verwandelt. Van't Hof deutete an, dass das Unternehmen seine erfolgreiche Strategie der Akquisition und Ausbeutung fortsetzen wird, mit Schwerpunkt auf erstklassiger Ausführung, kostengünstigen Operationen und Transparenz.
- Planned and orderly CEO succession indicates strong corporate governance
- Internal promotion maintains continuity of successful business strategy
- New CEO has 9 years of experience with the company
- Current CEO remains involved as Executive Chairman through 2026
- None.
- Travis D. Stice to step down as Chief Executive Officer, effective as of the Company’s 2025 Annual Meeting of Stockholders; will remain as Executive Chairman through the Company’s 2026 Annual Meeting of Stockholders
- Kaes Van’t Hof, current President, will assume Chief Executive Officer role and will join the Board of Directors effective as of the Company’s 2025 Annual Meeting of Stockholders
- Jere W. Thompson III, current Executive Vice President of Strategy and Corporate Development, has been promoted to Executive Vice President and Chief Financial Officer, effective today
- David L. Houston to retire from the Board of Directors at the Company’s 2025 Annual Meeting of Stockholders
MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process that will position the Company for continued long term outperformance. Travis D. Stice, who has led Diamondback as Chief Executive Officer since January 2012 and joined the Board of Directors in November 2012 following the Company’s initial public offering, intends to step down as Chief Executive Officer effective as of the Company’s 2025 Annual Meeting of Stockholders. At that time, Mr. Stice will transition from Chief Executive Officer to Executive Chairman of the Board, and Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer and will join the Board of Directors. Effective today, Jere Thompson, current Executive Vice President of Strategy and Corporate Development, will assume the role of Executive Vice President and Chief Financial Officer.
“On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last 14 years. His hard work, dedication and commitment to Diamondback grew an unknown, small-cap oil producer in 2012 into one of the largest oil and gas companies in North America. His accomplishments during his tenure exceed anything that can be explained by words on a page and go well beyond the industry-leading performance of the stock price,” stated Melanie M. Trent, Lead Independent Director.
Ms. Trent continued “The Board looks forward to Travis’ contribution in his new role as Executive Chairman, ensuring a seamless leadership transition and a continued, consistent voice in the boardroom.”
“The past 14 years have been immensely rewarding, and it has been a true honor to represent the dedicated employees who have transformed Diamondback into the remarkable company it is today,” said Mr. Stice. “Transitioning into my new role as Executive Chairman will allow me to remain actively engaged with the Board of Directors and contribute to the continued strategic development of our organization.”
Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has earned the opportunity to lead us into a future that is brighter than ever before. The Board of Directors unanimously and wholeheartedly support him as he steps into this pivotal role and continues to build on our legacy of success.”
“I am incredibly honored and humbled by the vote of confidence from Travis and the Board to assume the CEO role at Diamondback. Over the last nine years, I have had a front row seat to watch and learn from one of the best to ever do it in our industry’s history. What Diamondback has built in a short period of time is very special, and nearly impossible to replicate. While we don’t spend a lot of time looking in the rear-view mirror, the playbook for the next decade of success at Diamondback will look a lot like the last decade - an acquire and exploit strategy based on best-in-class execution, low-cost operations and transparency,” stated Mr. Van't Hof.
Mr. Van’t Hof continued “I am also very excited to announce Jere’s promotion to CFO. He has dedicated himself to learning all facets of our business in various roles over the last few years, has a strategic financial mind, and will continue to execute on Diamondback’s differentiated capital allocation and financial strategy.”
Diamondback also announced today that David L. Houston, who has been a member of the Board of Directors since the Company’s initial public offering and who currently serves on the Company’s Audit Committee and Safety, Sustainability and Corporate Responsibility Committee, informed the Company of his decision to retire as a director when his existing term concludes immediately after the 2025 Annual Meeting of Stockholders.
“David has been with Diamondback since the beginning, helping us grow into the Company we are today. He has been instrumental in supporting our growth, financial strategy, and success. David’s contributions are many, and we wish him all the best in his future endeavors,” stated Mr. Stice.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Diamondback, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Diamondback’s filings with the U.S. Securities and Exchange Commission ("SEC"), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Diamondback undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.
Investor Contact:
Adam Lawlis
+1 432.221.7467
alawlis@diamondbackenergy.com
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