Tulsa-based Unit Corporation announced Monday that Chairman John Nikkel is retiring as chairman of the board effective December 31, 2016, according to a company press release. J. Michael Adcock, a current board member, has been elected to serve as the energy company’s new chairman.
Adcock has served on Unit Corporation’s board of directors since 1997. He has several years of experience in banking, investments and energy operations, as well as executive leadership experience.
Nikkel joined Unit Corporation as its president, chief operating officer and a director in 1983. He was elected its chief executive officer in July 2001 and chairman of the board in August 2003. Nikkel retired as an employee and as the chief executive officer of the company on April 1, 2005, but retained his position as chairman of the board.
“John has been an incredible asset to Unit for the 33 years he has been with this company, working to grow our diversified operations,” said Larry Pinkston, chief executive officer and president of Unit Corporation. “His experience and knowledge in this industry is unparalleled. We will greatly miss John, but we believe that Mike Adcock is poised to take the helm of our board given his experience and knowledge of the industry and our company. We look forward to his leadership.”