Newfield Names New CEO, Splits CEO, Chairman Roles

Newfield Exploration Co. on Monday split the leadership roles of the company when it named Lee K. Boothby as its new chief executive.

Boothby, 47, who was also named to the independent oil and natural gas company's board, was named president of the company in February.

He succeeds David A. Trice, 61, who retired. Trice was re-elected to the board and will continue to serve as chairman in a non-executive capacity for one year.

The company did not say if the two positions will remain separate after the year is up. A representative could not be immediately reached for further comment.

Boothby has worked for Newfield for nearly 10 years and served as president of the company's Mid-Continent division from 2002 to 2007. That division has been the company's fastest growing in terms of production and reserves in the last three years.

Newfield also named Gary D. Packer, 46, as executive vice president and chief operating officer. He most recently served as President of Newfield's Rocky Mountain division in Denver. Daryll T. Howard, 46, will succeed him in that position.

Terry W. Rathert, 56, was named executive vice president and chief financial officer. He was previously a senior vice president and CFO.

Samuel E. Langford, 51, was named to vice president-corporate development.

Newfield shares closed at $33.73 Monday, down $2.28, or 6.3 percent, before the personnel moves were announced. The stock has traded between $15.45 and $69.77 in the past 52 weeks and is up about 71 percent this year.

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