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QEP Resouces CEO Stanley to Retire; ExxonMobil Alum Names as Successor
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QEP Resources Inc. announced that Chairman, President and CEO Charles "Chuck" Stanley has elected to retire from the Company, effective January 14, 2019.
The board has named Timothy "Tim" Cutt as QEP's President and Chief Executive Officer, effective January 15, 2019. Mr. Cutt will also serve as a member of the Company's board.
The board also announced it will separate the roles of Chairman and Chief Executive Officer and that Lead Independent Director David A. Trice has been named to succeed Stanley as Chairman of the board.
About Cutt
Mr. Cutt brings 35 years of oil and gas experience from ExxonMobil, where he served as President of ExxonMobil de Venezuela SA and President of Hibernia Management and Development Company, to BHP Billiton Ltd., where he served as the President of Petroleum from July 2013 through February 2016 and was accountable for its global oil and gas business, including the company's interests in the Permian Basin. Most recently, he served as the CEO at Cobalt International Energy, Inc.
Mr. Stanley has served as President, Chief Executive Officer and a director of QEP since its spinoff in 2010 from Questar Corporation.
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