Anadarko names new President and CEO
Posted: 4 December 2003
Anadarko Petroleum Corporation's Board of Directors announced James
T. Hackett has been named President and Chief Executive Officer
effective immediately.
Hackett joins Anadarko from Devon Energy Corporation (AMEX:DVN)
where he served as President and Chief Operating Officer.
Anadarko's current Chairman, President and CEO, Robert J. Allison,
Jr., will retire immediately as President and CEO and will remain
executive Chairman of the Board through Jan. 1, 2004. After Jan.
1, Allison will serve as non-executive Chairman.
"I have had the privilege of leading Anadarko for most of
my 30 years here, and I believe this is the right time for me to
step down," Allison said. "I have a great deal of confidence
in Jim Hackett. I respect him and his abilities, and I firmly believe
that he is the right person to lead this company. With the support
and dedication of our employees, I know he will succeed in keeping
Anadarko on track to deliver long-term shareholder value."
"Anadarko is giving me a tremendous opportunity to join a
very successful company," Hackett said. "I am looking
forward to the opportunity to lead such a respected and talented
group of employees at a company that has rich assets and opportunities
in its portfolio. I anticipate that I will continue to build on
the programs that have made Anadarko one of the leading growth companies
and I have made it clear to Bob Allison and the board that I expect
to be here for the long haul."
The company also announced that Executive Vice President and Chief
Financial Officer Michael Rose and Executive Vice President, Administration
Charles Manley will retire at the end of the year. Rose joined Anadarko
in 1978 as Chief Accountant. He was named to the position of CFO
in 1986. Manley began his career with Anadarko in 1974 and was named
Senior Vice President, Administration, in 1993 and Executive Vice
President, Administration in 2000. No replacements have been named
for either position.
Prior to joining Devon, Hackett, 49, served as Chairman, President
and CEO of Ocean Energy, Inc., following its merger with Seagull
Energy Corporation in 1999, where he was Chairman, CEO and President.
Hackett has spent his entire career in the energy business in a
variety of management positions and brings considerable experience
to Anadarko. He is currently the chairman of the Domestic Petroleum
Council, a board member of the American Petroleum Institute and
a member of the Society of Petroleum Engineers.
He also serves as the president of the Houston Grand Opera and
serves as the chair for the St. Luke's Episcopal Hospital capital
campaign.
Allison, 64, joined Anadarko Production Company in 1973 and was
named CEO in 1979. In 1986, he was named Chairman and CEO of Anadarko
Petroleum Corporation.
During Allison's tenure, the company has grown from about 300 employees
and reserves of 100 million barrels of oil equivalent (BOE) to a
company with 3,400 employees working in about a dozen countries
and 2.2 billion BOE of reserves.
Anadarko Petroleum Corporation is one of the world's largest independent
oil and gas exploration and production companies. Houston-based
Anadarko is active in the U.S., Canada, Algeria, Qatar and Venezuela
and is executing strategic exploration programs in several other
countries.
For more information see www.anadarko.com.
Posted by Richard Price,
Editor Pipeline Magazine
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