The head of North Sea producer Noble Energy is to quit the firm next summer, after 15 years at its helm.
Charles Davidson, chairman and chief executive at the Houston-based oil group, said he would vacate the role on May 1 2015.
Current chief operating officer and president David Stover has been picked as his replacement, with the 56-year-old set to be appointed at a meeting next week.
“Under Chuck’s leadership Noble Energy has been transformed into a highly successful global exploration and production company,” said director Michael Cawley.
“He will be greatly missed when he retires, but executive succession planning has been a focus of Noble Energy’s Board of Directors for many years. Today’s announcement that Dave Stover will become Noble Energy’s next CEO reflects the Board’s extensive planning and confidence that Dave is the right leader for the future Noble Energy.”
The firm said it was looking for a smooth transition between Davidson and Stover next year.
Industry veteran Stover, who joined the company in 2002, has been COO at Noble since 2009. The engineering graduate was previously at BP and Atlantic Richfield before joining Noble.
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