EOG Resources announced that Executive Vice President and Chief Financial Officer, Ann D. Janssen, will retire at the end of 2026. The Board has appointed Jeffrey W. Hibbard, currently Senior Vice President of Finance, as her successor. The company also disclosed amendments to its long-term incentive compensation plans for executive officers.
Key Details
- CFO Transition: Ann D. Janssen will step down as EVP and CFO on December 31, 2026, and will serve as an advisor starting January 1, 2027. Jeffrey W. Hibbard will assume the role of EVP and CFO on January 1, 2027.
- Compensation Plan Updates: The company amended its long-term incentive awards, changing the vesting schedule for future restricted stock/RSU grants from a 3-year "cliff" vesting to a 3-year ratable (pro rata) vesting.
- Performance Unit Modifier: A "negative TSR modifier" was added to performance unit awards, which reduces the portion of the performance multiple exceeding target by 50% if the company's total shareholder return is negative over the three-year performance period.