In 2013, Carol SingletonSlade, Steve Goodman, Trent Aulbaugh and Roger Aguirre of Egon Zehnder’s Global Energy Practice warned of the dire need for identifying and training a new generation of qualified and prepared executives who are ready and willing to lead oil and gas companies. Four years later, as Chevron’s chief executive John Watson is set to step down, his likely replacement is a representation of this “new leadership for a changing oil world.” Following the influx of new field development technologies that significantly improved exploration results, diverse competencies are now required for the CEOs of major oil companies. Despite these challenges, business is improving. Presently, a number of major oil and gas CEOs are professionals whose area of expertise is either refining, where margins are tighter and financial discipline is essential, or business strategy and finance. In this environment, the CEOs that survived the downturn and led their companies to calmer waters should be safer than ever in their current positions, especially if they’re open enough to renewable energy and disruptive technologies.
Full Story: "Lower-For-Longer Drives Leadership Shift in Big Oil" on OilPrice.com (10 August 2017).