07 October 2011 15:58 [Source: ICIS news]
HOUSTON (ICIS)--The board of directors for ConocoPhillips has chosen the leadership for the companies that will result from the upcoming spin-off of its downstream businesses, the US-based energy major said on Friday.
Ryan M Lance will serve as chairman and CEO of ConocoPhillips, which will be the upstream company.
Greg C Garland will be the chairman and CEO of the new downstream company.
They will assume their roles when the company completes its split in the second quarter of 2012.
Lance is currently senior vice president of exploration and production, international, for ConocoPhillips. He has 26 years of experience with the company.
Garland is currently the senior vice president of exploration and production, Americas, for ConocoPhillips. He has previously served as the president and CEO of Chevron Phillips Chemical (CP Chem), the 50:50 joint venture with Chevron.
Once the split is complete, the upstream company will focus on exploration and production, while the downstream company will combine three of ConocoPhillips's core businesses – refining, marketing and transportation; chemicals; and midstream.
The downstream company will include ConocoPhillips’s stake CP Chem.
For more on CP Chem visit ICIS company intelligence
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