Woodside Petroleum has announced ExxonMobil executive Peter Coleman as the successor to departing chief executive Don Voelte.
Woodside Petroleum has announced ExxonMobil executive Peter Coleman as the successor to departing chief executive Don Voelte.
Mr Coleman is a 27-year oil and gas industry veteran, most recently serving as vice president of the ExxonMobil Development Company, which overseas oil and gas developments globally.
Previous roles included vice president of ExxonMobil's America's division, where he was responsible for leading all activities related to production in the United States, Canada and South America.
He will commence as chief executive and managing director on May 30.
An Australian citizen, Mr Coleman joined ExxonMobil from its Australian subsidiary Esso.
Woodside said Mr Coleman would receive a fixed annual salary of $2.1 million, plus incentives, and a sign on bonus of $3 million worth of Woodside shares.
Woodside chairman Michael Chaney said Mr Coleman would bring a wealth of experience across all aspects of the oil and gas industry.
Mr Chaney paid tribute to the departing Mr Voelte, who will remain at the company for several weeks to ensure a smooth transition.
"Mr Voelte oversaw a significant expansion of Woodside's LNG portfolio and created a strong 'can do' culture within the company," Mr Chaney said.
"He has made an enormous contribution during his tenure, leaving Woodside in a great position from which it can continue to build under Mr Coleman's leadership."
Mr Coleman said he had followed Woodside since early in his career and was excited to be joining the company.
"Woodside has an impressive portfolio of Australian oil and gas assets right across the development timeframe and I look forward to growing the company as successfully as my predecessors, and in a manner which continues to provide superior returns to shareholders," he said.
"I am committed to maintaining the excellent reputation Woodside has in the industry for safe, reliable and responsible operations."
Mr Voelte said he was confident Mr Coleman had the industry experience and skills to take Woodside through its next phase of growth.
He said he would continue to follow Woodside closely after he formally departs the company on June 30.
"I am privileged to have served in the best job of my career over the past seven years," Mr Voelte said.
"It was a hard decision to make way for a new CEO, but it was the right call and I leave the company happy with the contribution I have made."