Devon Energy CEO Richard Muncrief to retire March 1, 2025; COO Clay Gaspar named successor

DEVON ENERGY CORP/DE

CEO Richard Muncrief retiring effective March 1, 2025; will serve as advisor until Q2 2025.
Clay M. Gaspar, current EVP & COO, appointed President, CEO, and Board member same date.
Gaspar compensation: base salary $1,000,000, target bonus 130% of base, target equity $8,000,000.
Retirement not due to disagreement; no other arrangements with Mr. Gaspar.

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