Pioneer Natural Resources Co. on Oct. 7 announced the promotions of Richard (“Rich”) P. Dealy as president and COO and Neal H. Shah to CFO, which Pioneer said are part of the Permian Basin shale producer’s goal to deliver long-term shareholder value.
The changes, effective Jan. 1, 2021, also included the promotion of Elizabeth (“Beth”) A. McDonald to senior vice president of Permian strategic planning and field development and marketing.
In the company announcement, Pioneer CEO Scott D. Sheffield noted the trio’s collective experience, commitment and impact to Pioneer have been “pivotal” in achieving its operational and financial goals.
“When I returned as CEO in 2019 it was clear the shale model was undergoing a rapid transformation,” Sheffield said in a statement. “Pioneer responded by evolving its business strategy, culminating in the new investment framework we outlined in August that focused on strong returns, low leverage, significant free cash flow and return of capital to shareholders.”
“These management changes enhance Pioneer’s ability to execute our plan, driving value for shareholders,” he added.
Dealy has been been an invaluable leader in many roles during his 28 years with the company and currently serves as Pioneer executive vice president and CFO. He initially joined Parker and Parsley, a predecessor to Pioneer, in 1992. He has served as CFO since 2004, overseeing a myriad of teams, both financial and operational, according to the company release.
Shah has served in his current role as vice president of investor relations since joining Pioneer in 2017. He has over 15 years of experience in finance and investment management including vice president at Nuveen Asset Management and financial positions at various investment banks. At Pioneer, Shah has been instrumental in shaping and communicating the company’s corporate strategy, the company release said.
McDonald initially joined Pioneer in 2005 and has held many roles, including vice president of the company’s South Texas asset team. She served in her current position of vice president of Permian strategic planning and field development since 2019.
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