ConocoPhillips CFO Andy O’Brien Named CEO as Lance Steps Up

ConocoPhillips has confirmed that Chief Financial Officer and Executive Vice President, Strategy and Commercial, Andy O’Brien will take over from Ryan Lance as President and CEO. 

On appointment, Andy will join the board of directors, while Ryan will become Executive Chair of the board after leaving the Chief Executive role.

In a linked change, Konnie Haynes-Welsh, currently Vice President, Finance and Controller, will assume the Senior Vice President and CFO position. All three moves take effect from 1 September 2026.

Commenting on Andy’s appointment, Robert Niblock, ConocoPhillips Lead Independent Director, says: “We are also pleased to appoint Andy as president and CEO.

“He brings a deep knowledge of our business, a strong track record of execution and has played a key role in making ConocoPhillips successful. We look forward to welcoming him to the board.”

Andy’s finance and strategy background

Andy first joined ConocoPhillips in 1997 and has since held multiple roles across the firm’s finance and planning and strategy segments, each one playing a key role in markets around the globe.

He became a member of the company’s executive team in 2022 and since then, he has served in leadership roles overseeing ConocoPhillips’s Alaska and international businesses, commercial, finance, LNG corporate strategy, mergers and acquisitions and Investor Relations .

“I'm honoured to lead ConocoPhillips and grateful to Ryan for the strong foundation he has built,” Andy says.

“Ryan has helped put the company in an exceptional position, with one of the best asset bases in the industry and a culture that delivers. My focus will be to build on that momentum, continue raising the bar and unlock even greater value across our company. Our future is bright, our best years are ahead of us and I can’t wait to get after it with this team.”

Cash-flow plan and Willow at the core

This executive transition comes as ConocoPhillips progresses through a multiyear strategy targeting an additional US$7bn in free cash flow by 2029.

The success of this target relies heavily on the completion of its Alaskan Willow oil project, which accounts for nearly three-quarters of the planned free cash flow growth.

Supported by a US$3.9bn second-quarter profit surge driven by rising oil prices, US$1.7bn in noncore Lower 48 asset sales, and the acquisition of a 42% joint venture stake in northern Iraq, the company is positioned to pursue its financial goals.

Ryan formerly highlighted that ConocoPhillips is well equipped to execute its growth plans thanks to its "world-class team" and "excellent portfolio."

Reflecting on the company under Ryan’s leadership, Robert says: “[Ryan] set the course for the newly formed independent ConocoPhillips in 2012, and during his tenure, the company became a recognised leader within the sector as a global upstream company.

“The strength of the company today and its compelling outlook for the future is a direct result of Ryan's vision and leadership.”

Lance endorses Andy's step up

Echoing Robert’s thoughts on ConocoPhillips’ success, Ryan praises the “talented people” involved in the firm across his 42-year career, continuing to commend Andy’s abilities as CFO and future CEO.

“Andy has played a significant role in shaping our company and strategy and I’m excited to see him, his leadership team and our employees build on our track record of success,” Ryan says.

“I have complete confidence they will continue executing with discipline, generating peer-leading free cash flow growth and delivering competitive returns to shareholders, while meeting the world’s growing energy demand.”