ConocoPhillips CEO Lance to Step Down After 14 Years; Successor Announced

**ConocoPhillips Announces Leadership Transition: Andy O’Brien Named CEO as Ryan Lance Steps Down**

ConocoPhillips has announced a major leadership transition, appointing Andy O’Brien as the company’s new president and chief executive officer, effective September 1. He succeeds longtime CEO Ryan Lance, who is retiring from the role after 14 years. Lance will remain with the company in a transitional capacity as executive chair.

In tandem with this transition, Konnie Haynes-Welsh has been named senior vice president and chief financial officer, taking over the CFO role previously held by O’Brien.

### A Legacy of Transformation

Lance’s departure from the chief executive role concludes a 14-year tenure during which he reshaped ConocoPhillips into one of the world’s premier independent upstream oil and gas companies. Under his guidance, the company underwent significant portfolio optimization, completed major strategic acquisitions, and maintained a strong commitment to shareholder returns.

“On behalf of the board, I want to thank Ryan for 14 years of exceptional leadership and more than 40 years of dedicated service to the company,” said Lead Independent Director Robert Niblock. “He set the course for the newly formed independent ConocoPhillips in 2012, and during his tenure, the company became a recognized leader within the sector as a global upstream company.”

Reflecting on the transition, Lance expressed strong confidence in the company’s future, noting that ConocoPhillips enters this new era with “an exceptional portfolio and a world-class team.” He added that O’Brien is well-equipped to sustain the company’s disciplined strategy and continue driving long-term value for shareholders.

### Experienced Leaders Step Up

Andy O’Brien brings decades of company experience to his new role as CEO. He joined Conoco in 1997 and most recently served as executive vice president of Strategy and Commercial, as well as CFO. Since joining the executive leadership team in 2022, O’Brien has managed a wide array of responsibilities, including the company’s Alaska and international businesses, commercial operations, LNG, finance, corporate strategy, investor relations, and mergers and acquisitions.

“I’m honored to lead ConocoPhillips and grateful to Ryan for the strong foundation he has built,” O’Brien said. “My focus will be to build on that momentum, continue raising the bar and unlock even greater value across our company.”

Incoming CFO Konnie Haynes-Welsh is also a seasoned company veteran, having joined ConocoPhillips in 2012. Throughout her career with the company, she has held various leadership roles spanning finance, corporate strategy, treasury, and the Lower 48 operations. She currently serves as vice president, Finance and Controller.

All leadership changes are scheduled to take effect on September 1.