SM Energy Co. (NYSE: SM) reports that Anthony J. Best will retire from his role as the company’s CEO on January 31, 2015. In conjunction with this previously announced leadership transition, the board of directors has appointed Javan D. Ottoson, currently president and COO, to the board, effective Sept. 26, and intends to appoint Ottoson as the company’s CEO upon Best’s retirement.
Best has served as the company's CEO and a member of its board of directors since February 2007. He joined the company in June 2006 as its president and COO. Best will complete his current term as a member of the board, and does not plan to stand for re-election to the board of directors at the company’s 2015 Annual Meeting of Stockholders.