ConocoPhillips CEO Lance Transitions to Executive Chairman

TL;DR

ConocoPhillips CEO Ryan Lance is moving to Executive Chairman, Berry takes over as Non-Exec Chairman March 1st.

AI Summary

ConocoPhillips announced on January 28, 2025, that Ryan M. Lance, the Chief Executive Officer, will transition to the role of Executive Chairman of the Board, effective March 1, 2025. Concurrently, William S. Berry, the current Lead Independent Director, will assume the role of Non-Executive Chairman of the Board. This leadership transition is part of a planned succession strategy.

Why It Matters

This leadership change signals a planned succession at the top of a major energy company, which could impact strategic direction and investor confidence.

Risk Assessment

Risk Level: low — The filing details a planned leadership transition, which is a common corporate event and not indicative of immediate financial distress or operational risk.

Key Players & Entities

• ConocoPhillips (company) — Registrant
• Ryan M. Lance (person) — Current CEO transitioning to Executive Chairman
• William S. Berry (person) — Current Lead Independent Director assuming Non-Executive Chairman role
• March 1, 2025 (date) — Effective date of leadership transition
• January 28, 2025 (date) — Date of report
• January 27, 2025 (date) — Earliest event reported date

FAQ

From the Filing

0001104659-25-006571.txt : 20250128 0001104659-25-006571.hdr.sgml : 20250128 20250128093707 ACCESSION NUMBER: 0001104659-25-006571 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20250127 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250128 DATE AS OF CHANGE: 20250128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONOCOPHILLIPS CENTRAL INDEX KEY: 0001163165 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 010562944 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32395 FILM NUMBER: 25561312 BUSINESS ADDRESS: STREET 1: 925 N. ELDRIDGE PARKWAY CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 281-293-1000 MAIL ADDRESS: STREET 1: SHIPPING & RECEIVING CENTER STREET 2: 16930 PARK ROW DR. CITY: HOUSTON STATE: TX ZIP: 77084 FORMER COMPANY: FORMER CONFORMED NAME: CORVETTEPORSCHE CORP DATE OF NAME CHANGE: 20011204 8-K 1 tm254540d1_8k.htm FORM 8-K false 0001163165 0001163165 2025-01-27 2025-01-27 0001163165 us-gaap:CommonStockMember 2025-01-27 2025-01-27 0001163165 cop:SevenPercentDebenturesDueTwentyTwentyNineMember 2025-01-27 2025-01-27 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (date of earliest event reported): January 28, 2025 ( January 27, 2025 )   ConocoPhillips (Exact name of registrant as specified in its charter)   Delaware   001-32395   01-0562944 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   925 N. Eldridge Parkway Houston , Texas 77079 (Address of principal executive offices and zip code)   Registrant’s telephone number, including area code: ( 281 ) 293-1000   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))    Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $.01 Par Value   COP   New York Stock Exchange 7% Debentures due 2029   CUSIP – 718507BK1   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company   ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ¨           Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On January 27