Garland to Head ConocoPhillips Downstream

ConocoPhillips has announced the key leadership team for its upstream and downstream companies once the separation of the two businesses is complete. Greg C. Garland will become Chairman and Chief Executive Officer of ConocoPhillips downstream, while Ryan M. Lance is to be appointed to the same role in the upstream operation. Current Chairman and Chief Executive Officer Jim Mulva will be retiring when the separation is complete.

Greg Garland is Currently Senior Vice President for Exploration and Production in the Americas. Garland began his career as a project engineer for Phillips Petroleum and has been associated with ConocoPhillips and its affiliated companies for 31 years.

“The repositioning will create a standalone company with a unique, diverse and highly competitive portfolio of segment-leading businesses," said Garland. "I look forward to the opportunity to drive superior shareholder value in the downstream company by operating world-class assets with ConocoPhillips' philosophy of capital discipline and a strong dividend policy.” The separation of ConocoPhillips is set to be completed in the second quarter of 2012.