Ryan Lance, CEO of ConocoPhillips, will step down in September after 14 years at the helm of the American oil group. He will remain as executive chairman. Andy O’Brien, current CFO and long-time ConocoPhillips employee since 1997, will succeed him. The company posted quarterly earnings of $3.9 billion, up from $2 billion a year earlier, driven by high oil prices linked to the conflict in Iran. The company’s market cap stands at approximately $140 billion. This transition comes as ConocoPhillips finalizes the sale of $1.7 billion in non-core U.S. assets.
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