Noble Energy Inc. announced that it will propose the election of the company’s President and COO, David L. Stover as a director at its 22 April 2014 organizational meeting, and that it intends to appoint Stover as CEO in October 2014.
This decision follows current Chairman and CEO, Charles D. Davidson’s decision to retire on 1 May 2015. Davidson has served as CEO and director since joining the company in 2000.
"I am announcing my plans to retire next year with full confidence that the team led by Dave Stover will successfully deliver our exceptionally strong growth plan over the coming years,” Davidson said. “Dave has played a key role in Noble Energy's success in recent years and has all the necessary skills to lead the Company to even greater performance in the future. While it will be extremely difficult for me to leave my fellow employees at Noble Energy, I will leave knowing that the time is right and that the Board has thoroughly planned for this leadership transition and succession."
Stover was elected president and COO of Noble Energy in April 2009. Prior to that, he served in several other executive positions following his joining the company in 2002. Before joining Noble Energy, he was employed by BP America, Inc., Vastar Resources and Atlantic Richfield. He holds a bachelor's degree in petroleum and natural gas engineering from Pennsylvania State University and has approximately 35 years of industry experience.