Devon Energy Appoints Dave Hager As President & CEO - Quick Facts

(RTTNews) - Devon Energy Corp. (DVN) announced its board has elected Dave Hager, most recently Devon's chief operating officer, as the company's new president and chief executive officer. Hager succeeds John Richels. 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.

In December, when Richels announced his plans to retire, the board elected him vice chairman, with the intent for Richels to replace Nichols as chairman upon Nichols' retirement from the board in 2016.