By Erin McCarthy
Noble Energy Inc. said Tuesday that Chairman and Chief Executive
Charles D. Davidson will retire in May 2015, and he will be
succeeded by the company's current chief operating officer.
Mr. Davidson, 64 years old, will also leave the oil and gas
explorer's board at the same time, Noble said in a statement. He
has served as chief executive and director since he joined the
company in 2000.
Noble Energy's board said it would propose the election of
President and Chief Operating Officer David L. Stover, 56, as a
director later this month. It also plans to appoint Mr. Stover as
chief executive in October.
Mr. Stover was elected president and chief operating officer in
April 2009. Before that, he served in several other executive
positions since joining the company in 2002, Noble said.
Noble Energy has been selling its noncore assets, positioning
itself to focus on horizontal drilling operations in the U.S. and
offshore projects in the Gulf of Mexico, the Mediterranean and West
Africa. Major initiatives include projects in Israel and Equatorial
Guinea.
Noble Energy said in February that it signed a pact with
Australia-based Woodside Petroleum Ltd. to sell offshore Israel
natural-gas licenses for more than $1 billion in upfront payments
and future shared revenue.
Write to Erin McCarthy at erin.mccarthy@wsj.com
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