Pioneer Natural Resources announced that Richard P. Dealy commenced his new role as CEO, effective Jan. 1, according to a Jan. 2 press release.

Dealy, previously Pioneer’s president and COO, holds over 30 years of industry experience with his various leadership roles across the company, including serving as executive vice president and CFO from November 2004 through December 2020.

Dealy succeeds Scott D. Sheffield, who retired as the company’s CEO on Dec. 31, 2023. Sheffield transitioned to the non-executive role of special advisor to the CEO effective Jan. 1, the release stated.

"Rich is a disciplined, focused and enthusiastic leader, Sheffield said in the release. “He has been a major reason for our success, and the company could not be in better hands."

Sheffield and Dealy will both continue to serve on the Pioneer board of directors.