Luca Paciolo – circa 1500 – “The Father of Accounting”

Bill Bullock, CFO of ConocoPhillips (‘COP’), is retiring, effective June 1, 2025. He will be succeeded by Andy O’Brien, currently Senior VP, Strategy, Commercial, Sustainability and Technology.

COP has revenues of $55 billion and a market capitalization of $117 billion. It is a big producer in the Permian Basin and Alaska. The company also has minority interests in producing assets in China, Libya, Norway and Qatar.

Mr. Bullock joined COP in 1986 and became CFO in August 2020. Like his predecessor, Don Wallette, Mr. Bullock has a bachelor’s degree in Chemical Engineering. Both men retired after 39 years at the company.

Mr O’Brien has also spent all his career at COP. He began his career at Conoco in 1997 in the UK and has served in a variety of finance, planning and strategy roles in the UK, Canada, Alaska and Houston. Mr. O’Brien is a chartered management accountant and graduated with a bachelor’s degree in business administration.

Mr. Bullock had a base salary of $1.1 million in 2024. With his retirement, there are now only two CFO’s at publicly-traded companies in the Houston-area with a base salary over $1 million (Kathy Mikells at ExxonMobil and Eimear Bonner at Chevron). In his previous role, Mr. O’Brien had a base salary of $726,000. The company did not disclose any new compensation arrangements as a result of his promotion.

SEC filing – 8-K ConocoPhillips appoints O’Brien as CFO