Devon Energy Corp. (DVN) announced on Monday that Rick Muncrief will retire from his roles as President, Chief Executive Officer, and member of the Board of Directors, effective March 1, 2025. A seasoned industry leader, Muncrief has been at the helm since Devon's merger with WPX Energy in January 2021, and he previously served as CEO and chairman of WPX.
The Board of Directors has named Clay Gaspar, currently the Chief Operating Officer of Devon, to succeed Muncrief as President and CEO, as well as a member of the board, starting March 1, 2025. Gaspar's appointment follows a thorough succession planning process by the board.
Since Devon's merger with WPX, Gaspar has held the position of Executive Vice President and Chief Operating Officer. His association with WPX dates back to 2014, where he held roles as Senior Vice President and COO, as well as Senior Vice President of Operations and Resource Development. Gaspar’s career also includes significant experience at Newfield Exploration, Anadarko Petroleum, and Mewbourne Oil, where he served in various technical and leadership capacities.
