People | Capital Markets | Private Equity Activity
Former BHP CFO Joins Cobalt's Executive Team
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Cobalt International Energy, Inc. has named David D. Powell as Chief Financial Officer and Executive Vice President. Mr. Powell previously served as Chief Financial Officer for BHP Billiton - Petroleum where, from March 2009 until May 2016, he was accountable for all finance, accounting, commercial assurance, supply chain and information technology activities. Mr. Powell replaces Shannon E. Young, III. These changes are effective July 8, 2016.
Cobalt's Chief Executive Officer Timothy J. Cutt said, "David is a deeply experienced oil and gas executive leader, both as a CFO and an international executive, with previous accountabilities spanning several continents where he succeeded in very challenging work environments. He has extensive experience interfacing with and working in capital markets with both equity and debt investors. I am absolutely confident David has the experience to lead the finance function during this critical time in Cobalt and am delighted he is joining Cobalt." Cutt added, "I appreciate and thank Shane for the contributions he has made to Cobalt and wish him the best in the future."
Commenting on his appointment Mr. Powell said, "I am very excited to join Tim Cutt and the entire Cobalt team at this exciting and challenging time in Cobalt's history, and look forward to working with these talented professionals to strengthen Cobalt's financial foundation and deliver the greatest value to Cobalt's shareholders."
Mr. Powell has over 35 years of experience in the oil and gas industry during which he held numerous leadership roles with increasing responsibilities in the United States, as well as Argentina, Russia, Malaysia and Qatar. Mr. Powell holds a Bachelor of Science in Accounting, graduating Summa Cum Laude from William Jewell College. In addition, he completed the Advanced Management Program at the Harvard Business School and has a Certified Public Accountant certificate from the State of Missouri.
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