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ConocoPhillips chief executive Ryan Lance will retire on September 1st after 14 years leading the oil company and more than four decades with the business, with finance chief Andy O’Brien set to succeed him. Additionally, Konnie Haynes-Welsh, currently vice president of finance and controller, has been promoted to senior vice president and CFO. The leadership changes were announced as ConocoPhillips reported its strongest quarterly results in four years, with profit of $3.9bn, supported by higher oil and fuel prices during the Iran war. Mr. Lance's appointment reflects a broader rise in CFO-to-CEO promotions. According to executive search firm Crist Kolder Associates, 10.26% of sitting CEOs at Fortune 500 and S&P 500 companies in 2025 had moved directly from the CFO position, up from 7.1% in 2024 and 6.5% in 2015.
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