Anadarko Names Al Walker Chairman of the Board
HOUSTON, TX -- (Marketwire) -- 02/19/13 -- The Board of Directors of
Anadarko Petroleum Corporation (NYSE: APC) today announced that Al
Walker has been elected Chairman of the Board, effective at the end
of Anadarko's Annual Meeting of Stockholders on May 14, 2013. He also
will continue to serve as President and CEO.
Walker, 56, will succeed James T. Hackett. As previously announced,
Hackett will serve as Executive Chairman through the company's 2013
Annual Meeting of Stockholders and will retire from Anadarko in June
"Since being appointed President and CEO last May, Al has continued
to demonstrate strong leadership at Anadarko," said Hackett. "The
Board has confidence that Al will be an effective Chairman and lead
the company in its commitment to achieving sustainable, long-term
success for our stakeholders."
"The transition from Jim's leadership to Al's has worked very well,"
said John Gordon, Lead Independent Director. "We are excited to take
this next step, and our Board believes that Al will be an effective
leader as Anadarko continues its work of safely providing the energy
our world needs every day."
In connection with Walker's election as Chairman, and consistent with
industry best practices, the Board of Directors also further enhanced
the duties of the Lead Director to ensure the company maintains a
corporate-governance structure with appropriate independence. An
updated description of the Lead Director's duties can be found in
Anadarko's Corporate Governance Guidelines, located on the company's
website at: http://www.anadarko.com/About/Pages/Governance.aspx.
"I am grateful for the Board's confidence," said Walker. "Anadarko's
established culture, talented employees, deep portfolio and strong
management team have positioned the company to continue delivering
differentiating success for years to come."
Anadarko Petroleum Corporation's mission is to deliver a competitive
and sustainable rate of return to shareholders by exploring for,
acquiring and developing oil and natural gas resources vital to the
world's health and welfare. As of year-end 2012, the company had
approximately 2.56 billion barrels-equivalent of proved reserves,
making it one of the world's largest independent exploration and
production companies. For more information about Anadarko and APC
Flash Feed updates, please visit www.anadarko.com.
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