2023-04-26 16:41:41 ET
Pioneer Natural Resources ( NYSE: PXD ) said Wednesday CEO Scott Sheffield plans to retire at the end of 2023 , to be succeeded by current President and COO Rich Dealy.
Sheffield founded Pioneer Natural Resources ( PXD ) and has seen the company grow into the second largest crude oil producer in Texas.
Sheffield retired from the company in 2016 but returned as President and CEO in 2019; he expected to continue to serve on Pioneer's ( PXD ) board following his retirement.
Dealy brings more than 30 years of industry experience in roles spanning nearly all operations and business functions at Pioneer ( PXD ) and its predecessor company.
He became President and COO in January 2021, after serving as Executive VP and CFO for more than 16 years.
Pioneer ( PXD ) also reported better than expected Q1 adjusted earnings of $5.21/share on revenues of $4.54B.
For further details see:
Pioneer Natural CEO Sheffield to retire at year-end, succeeded by Dealy