LONDON, UK: Diversified Energy Company PLC (LSE:DEC), a leading producer of natural gas in the United States, announced a series of executive leadership changes on Monday, September 18, 2023. The changes are aimed at ensuring the continued execution of the Company’s long-term strategic vision and delivering value to shareholders.
Eric Williams, who served as the Executive Vice President and Chief Financial Officer of the Company since July 2017, has resigned from his position, effective immediately, to pursue other professional opportunities. He will work with the Company through the end of September 2023 to ensure a smooth transition of leadership.
Brad Gray, who was the Executive Vice President and Chief Operating Officer of the Company, has been promoted to President and will assume the role of Chief Financial Officer, effective immediately. Gray has a deep understanding of Diversified, having also previously held the CFO position at the Company. He has developed strong relationships within every segment of the Company and has been instrumental in driving operational excellence and efficiency. As part of his transition in responsibilities, Gray has resigned from the Board of Directors.
The Company also announced the promotion of four senior leaders to executive roles. Maverick Bentley, who was the Senior Vice President of Midstream Operations, has been promoted to Executive Vice President of Operations; Benjamin Sullivan, who was the General Counsel, has been promoted to Senior Executive Vice President and Chief Legal & Risk Officer; Ron Ridgway, who was the Senior Vice President of Energy Marketing, has been promoted to Executive Vice President of Energy Marketing.
Rusty Hutson, CEO of Diversified, expressed his gratitude to Williams for his contributions over the last six years and his leadership in transforming the finance team. He also congratulated Gray and the other newly promoted executives for their achievements and their commitment to Diversified’s success.
Hutson said, “The changes announced today are a testament to our deep bench and strong succession plans. Brad, Ben, Ron, and Maverick are incredibly talented leaders. They will allow us to build on the significant momentum we have at Diversified as we continue our journey to grow and position this Company for the future. I am proud of the agility and resilience of our team to stay focused and deliver strong results.”
In addition to the executive leadership changes, the Company also announced some committee and governance changes at the Board of Directors level. Following Gray’s resignation from the Board, Kathryn Klaber becomes the Chair of the Nomination and Governance Committee and becomes a member of the Audit and Risk Committee; Martin Thomas leaves the Audit and Risk Committee; David Johnson leaves the Nomination and Governance Committee; Sylvia Kerrigan becomes the Senior Independent Non-Executive Director; David Turner steps down as the Senior Independent Non-Executive Director.
These committee leadership changes align with the Company’s focus on gender diversity and independence.
Diversified Energy Company PLC is a leading producer of natural gas in the United States with operations across six states. The Company is committed to delivering long-term value to shareholders through operational excellence, financial discipline, environmental stewardship, and social responsibility.