By Michael Calia
Apache Corp. (APA) on Friday said its president and chief
corporate officer, Roger Plank, has decided to retire.
Mr. Plank joined the company in 1981 and eventually became chief
financial officer in 1997 and president in 2009, Apache said.
"In nearly 33 years at Apache, Roger has been intimately
involved in Apache's direction and profitable growth, and I have
valued his insight and perspective on our business, culture and
strategy," Chairman and Chief Executive G. Steven Farris said.
Alfonso Leon, meanwhile, will become the company's chief
financial officer. The company credited Mr. Leon, who had been
chief of staff since 2012, with leading the company's planning,
strategy and investor relations.
Apache also named Tom Chambers, a 19-year company veteran, to
the new role of senior vice president, finance.
The changes come a day after Apache posted earnings and revenue
declines in the fourth quarter due in part to weaker oil and
natural gas production. Earlier this week, the company agreed to
sell its oil and gas operations in Argentina to YPF SA (YPF) for
$852 million.
Shares of Apache rose 2.3% to $82.81 Friday. The stock is down
3.6% so far this year.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires