Anadarko Petroleum’s Chief Operating Officer Al Walker will replace CEO James Hackett in May, the company said Tuesday, with Hackett assuming the role of executive chairman until he retires in June 2013.
“This is a good time for the transition to a long-planned succession, given the company’s strong exploration and operational success, and robust portfolio for long-term growth,” Hackett, 58, said in a statement. “After 13 years as a public company CEO, it’s time for me to consider other avenues for personal and professional growth. It’s been my privilege to serve as CEO for over eight years, and I look forward to serving Anadarko as executive chairman.”
Walker, 55, has more than 30 years of experience in the energy industry. He has served in positions of increasing responsibility at Anadarko over the last six years.
The Woodlands-based independent oil and gas producer this month reported a 200 percent increase in sales volumes from domestic shale plays in 2011. Still, Anadarko recorded a fourth-quarter net loss of $358 million because of one-time expenses like.
