Coterra Energy (market cap $19 billion) has appointed Shane Young as its new CFO. He replaces Scott Schroeder, who is retiring, effective September 30, 2023. Mr. Young joins from another Houston-based E&P company, Talos Energy (market cap $2 billion). In turn, Talos has promoted Sergio Maiworm from VP Finance, Investor relations and Treasurer to be its new CFO.
Coterra was formed from the merger of Cabot Oil and Gas and Cimarex in October 2021. Mr. Schroeder joined Cabot in 1995 as Assistant Treasurer and became CFO in 2014.
Mr. Young will a base salary of $620,000. He also receives a cash bonus of $100,000, a one-time long-term restricted stock grant valued at $2 million and a one-time long-term performance grant of $2 million.
Mr. Young had been CFO at Talos since May 2019, though he also had a spell as CFO between December 2014 and September 2015. He left after his first stint to join Cobalt International Energy and then Sheridan Production. He started his career as an investment banker with Morgan Stanley and Goldman Sachs.
Mr. Maiworm joined Talos in April 2018 as its Director of Finance and Investor Relations and added the Treasurer role when Mr. Young rejoined in May 2019. Mr. Maiworm has also worked as an investment banker (with Deutsche Bank). He has also worked at Shell, Transocean and ION Geophysical. He started his career at Deloitte and Touche.
Mr. Maiworm will receive a base salary of $425,000. He will also receive restricted stock and performance stock worth a total of $350,000 that will vest over the next three years.