**Devon Energy Announces Key Executive Appointments and Departure of Officer**

On January 10, 2025, Devon Energy Corporation (NYSE: DVN) filed a Form 8-K with the Securities and Exchange Commission to report several significant changes within its executive team.

The Board of Directors has appointed John D. Raines as Senior Vice President, E&P Asset Management, effective February 8, 2025, and Thomas J. Hellman as Senior Vice President, E&P Operations, effective January 20, 2025. Mr. Raines, aged 42, brings extensive experience to his new role, previously serving as the Vice President of the Delaware Basin Business Unit since 2022. On the other hand, Mr. Hellman, aged 57, has been appointed to oversee various operational aspects of the company, including drilling and completions.

In connection with these appointments, the Compensation Committee of Devon Energy approved competitive compensation packages for both executives, including base salaries and annual performance cash bonuses. Additionally, the Committee set a target level for annual long-term equity incentives.

However, the Company also made the decision to eliminate the position of Executive Vice President and Chief Corporate Development Officer, effective February 10, 2025. As a result, David G. Harris, currently in this role, will be departing the Company.

Regarding Mr. Harris’s departure, he is eligible to receive a severance package per his existing compensation arrangements. This package includes a lump-sum cash payment and the acceleration or continued vesting of outstanding long-term incentive awards.

The Form 8-K also disclosed that John D. Raines and Thomas J. Hellman are unrelated to any director or officer of Devon Energy and no arrangements or understandings exist that influenced their appointments.

The 8-K filing concluded with the signature of Christopher J. Kirt, the Vice President of Corporate Governance and Secretary of Devon Energy, dated January 13, 2025.

These changes are intended to strategically strengthen the leadership team at Devon Energy as the company continues its operations and growth in the oil and gas industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Devon Energy’s 8K filing here.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.