A new member was elected to Devon Energy’s board of directors. Shareholders chose John Krenicki Jr. to the board during the company’s annual meeting this week.
The shareholders also re-elected existing board members to one-year terms. With Krenicki’s election, the board was expanded to 10 members of which eight are independent directors.
Krenicki is a 56-year old senior operating partner at the private-equity investment firm Clayton, Dubilier and Rice LLC. He previously was with General Electric Co. for 29 years where he was vice chairman as well as president and CEO of GE Energy.
He had oversight of GE’s oil and gas, power and water and energy management businesses. Krenicki also is chairman of Brand Industrial Services Inc. and Wilsonart International Holdings LLC. He is also lead director of Ply Gem Holdings Inc.
Krenicki also previously served as board chairman of ServiceMaster Global Holdings and CHC Group and was a director of Hess Corp.
“We are extremely pleased to have John join our board,” said John Richels, Devon’s Board Chairman. “He brings a wealth of industrial and energy experience and has a proven track record as a leader and strategic thinker.”
