© PRNewsFoto/Noble Energy, Inc.
HOUSTON (FOX 26) -
After more than one decade at the helm, a new administrative era will begin in 2015 for Houston-based Noble Energy, Inc. without Charles D. Davidson.
Since joining the company in 2000, Davidson has served as chief executive officer. He is scheduled to retire on May 1, 2015 when he exits from the Noble Energy board of directors.
Davidson, 64, who also serves as the chairman of the board, will maintain that title until the 2015 annual meeting.
During its scheduled April 22 organizational meeting, the board will propose the election of David L. Stover as a director who would be appointed as the company's CEO in October.
Stover, 56, serves as the president and chief operating officer for Noble Energy. He was elected to those positions in April 2009, seven years after he joined the company.
"Noble Energy has an exciting future that has been created over many years by an incredibly deep and talented organization," said Davidson. "I am announcing my plans to retire next year with full confidence that the team led by Dave Stover will successfully deliver our exceptionally strong growth plan over the coming years. Dave has played a key role in Noble Energy's success in recent years and has all the necessary skills to lead the Company to even greater performance in the future. While it will be extremely difficult for me to leave my fellow employees at Noble Energy, I will leave knowing that the time is right and that the Board has thoroughly planned for this leadership transition and succession."
"Under Chuck's leadership Noble Energy has been transformed into a highly successful global exploration and production company," said Michael Cawley, Noble Energy lead independent director. "He will be greatly missed when he retires, but executive succession planning has been a focus of Noble Energy's Board of Directors for many years. Today's announcement that Dave Stover will become Noble Energy's next CEO reflects the Board's extensive planning and confidence that Dave is the right leader for the future Noble Energy. With implementation of the succession plan stretching over 12 months, we anticipate this to be a smooth and seamless transition."
Before he served in several other executive positions throughout his career with Noble Energy, Stover was employed by BP America, Inc., Vastar Resources and Atlantic Richfield. He has approximately 35 years of industry experience.
Read more: http://www.myfoxhouston.com/story/25266588/2014/04/16/noble-energy-charles-davidson-chairman-chief-executive-retire#ixzz2z9ueTlMC
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http://www.myfoxhouston.com/story/25266588/2014/04/16/noble-energy-charles-davidson-chairman-chief-executive-retire
