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Best to retire as SM Energy CEO

Ottoson intended replacement as Best plans retirement

Anthony (Tony) J. Best will retire from his role as SM Energy Co. (NYSE: SM) CEO within the next twelve months. The Board of Directors intends to appoint Javan D. Ottoson, currently president and chief operating officer, as the company’s CEO upon Best’s retirement.

Best has served as the company's CEO since December 2006 and a member of its Board of Directors since February 2007. He joined the company in June 2006 as its president and chief operating officer. OGFJ spoke with Best in August 2007 following his appointment as CEO. Read the full interview here.

Ottoson joined SM Energy in December 2006 as its chief operating officer after an extensive career in the oil and gas industry that began in 1980. He held technical and leadership positions of increasing responsibility with ARCO, Pure Resources/Unocal, and Energy Partners Ltd. prior to joining the company. Ottoson received a bachelor’s degree in chemical and petroleum refining engineering from Colorado School of Mines. He was appointed president of the company in October 2012.

Analysts at Global Hunter Securities called Best’s retirement “well deserved” following a “very successful and active tenure as CEO in which he transitioned the company from a financially driven acquire and exploit model to a more technical early resource capture/exploration model.” His intended replacement, Javan Ottoson, “has played a pivotal role throughout this progression and we believe will be viewed as the logical choice to succeed Mr. Best given the respect he commands both internally and with the Street,” they continued.

Best most recently joined the board of directors at Newpark Resources Inc.

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