Dec 9 (Reuters) - Devon Energy (DVN.N) , opens new tab said on Monday that Rick Muncrief would retire as CEO and will be succeeded by Chief Operating Officer Clay Gaspar.

Muncrief, 66, was named the CEO in January 2021 following the U.S. shale producer's merger with rival WPX Energy.

Gaspar, who also joined from WPX, will receive $1 million as annual base salary and cash bonus target of 130% of his base salary, Devon revealed in a regulatory filing.

The leadership transition is effective March 1, the company said.

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https://www.reuters.com/business/energy/devon-energys-rick-muncrief-retire-ceo-2024-12-09/