Apache CEO retires

US energy company Apache Corporation’s chairman, president and chief executive Steven Farris announced his immediate retirement today, leaving current chief financial John Christmann to fill the role.

Mr Farris will continue as non-executive chairman of the company’s board until May, at which point he will retire from the board altogether.

“After more than 25 years with the company and 14 years as CEO, it is time to hand over the reins to a new generation of leaders,” Mr Farris said.

“Over the last several years, we have significantly high-graded our portfolio through strategic acquisitions and divestments including the recently announced exit of our LNG businesses.

“We have a deeper inventory of North American opportunities than at any other time in our history, and I am confident the company is now well positioned to achieve its goal of becoming the premiere North American resource company,” he said.

Mr Christmann has worked at Apache for 18 years, serving in a variety of leadership roles.

He has been promoted from his current role as executive vice president and chief operating officer of the company.