Devon Energy Corp. (NYSE: DVN) has elected Dave Hager, most recently Devon’s COO, as the company’s new president and CEO. Hager succeeds John Richels, who announced plans to retire in December 2014. Hager assumed the roles of president and CEO on Aug. 1, the day after Richels’ retirement became effective.
Hager joined Devon in 2009, when he was named executive vice president of exploration and production. From 2007 until joining the company, Hager served as a member of Devon’s board of directors.
Hager has 35 years of experience in the oil and gas industry, having started his career in 1979 as a geophysicist with Mobil Corp. before joining Sun Oil Co. (predecessor of Oryx Energy Co.) in 1981. Upon the Kerr-McGee/Oryx merger in 1999, he became vice president of Gulf of Mexico operations for Kerr-McGee. There, he held positions of increasing responsibility, including vice president of international operations and vice president of worldwide deepwater exploration and production. He was promoted to senior vice president responsible for oil and gas exploration and production in 2003, and COO in 2005. Hager has a bachelor’s degree in geophysics from Purdue University and a master’s degree in business administration from Southern Methodist University.