ConocoPhillips CFO retires after 35 years

ConocoPhillips on Thursday announced the retirement of Jeff Sheets as executive vice president, Finance and chief financial officer after more than 35 years with the company.

In conjunction with Sheets’ retirement, ConocoPhillips also announced several executive leadership changes to realign responsibilities.

Don Wallette, Jr., currently executive vice president, Commercial, Business Development and Corporate Planning, has been named executive vice president, Finance, Commercial and chief financial officer. In this role, Wallette will be responsible for the company’s financial and commercial functions.

Al Hirshberg, currently executive vice president, Technology and Projects, has been named executive vice president, Production, Drilling and Projects. In this role, Hirshberg will oversee the company’s worldwide operations and will also be responsible for drilling, major projects and the health, safety and environmental function.

Matt Fox, currently executive vice president, Exploration and Production, has been named executive vice president, Strategy, Exploration and Technology. In this capacity, Fox will be responsible for strategic planning, exploration, business development and technology development.

These appointments are effective April 1. The company said that Sheets would remain in his current position until the effective date and will remain an employee of ConocoPhillips through May 31 to provide support during the transition of his responsibilities.

Wallette, Hirshberg and Fox will continue to report to chairman and chief executive officer Ryan Lance.

“We will miss Jeff’s extensive knowledge and experience, and I want to thank him for his significant contributions throughout his career at ConocoPhillips,” said Ryan Lance, chairman and chief executive officer.

“He has been a valued member of the executive leadership team and played an instrumental role in our transformation as an independent exploration and production company,” added Lance.

“I also look forward to continued leadership from Don, Al and Matt in their new roles. This team is well prepared to take on the challenges and opportunities for ConocoPhillips at this important time in our industry.”