ConocoPhillips has made additional appointments to the executive management teams for the two energy companies that will be created when ConocoPhillips completes its strategic repositioning, expected in the second quarter of this year.
Following a strategy enacted by other oil and gas companies before it, Houston-based oil and gas supermajor ConocoPhillips announced its plans to spin-off into two, stand-alone public companies in July 2011.
Phillips 66, the future independent downstream company, named C.C. (Clayton) Reasor as vice president, Investor Relations, Strategy and Corporate Affairs. The new ConocoPhillips, an independent, pure-play exploration and production company, named Ellen R. DeSanctis as vice president, Investor Relations.
Reasor has more than 30 years experience in the oil and gas industry. He began his career with Phillips Petroleum Company and has held positions of increasing responsibility including president, US Marketing. Reasor is currently vice president, Corporate and Investor Relations, for ConocoPhillips.
DeSanctis joins ConocoPhillips having most recently served as senior vice president, Corporate Communications, for Petrohawk Energy in Houston. She has more than 30 years in the oil and gas industry, including 15 years leading integrated corporate communication programs and investor relations.
In October, the company named leadership for both companies post split. Ryan M. Lance will become chairman and CEO of ConocoPhillips, the upstream company, and Greg C. Garland was named chairman and CEO of the downstream company.The gentelmen selected initial members of the executive teams in November.
ConocoPhillips' repositioning is subject to market conditions, customary regulatory approvals, the receipt of an affirmative ruling from the US Internal Revenue Service, the execution of separation and intercompany agreements and final board approval.