Ovintiv Inc. announced that Peter A. Dea will succeed Clayton H. Woitas, 71, as its chairman of the board.
Ovintiv President Michael McAllister also announced plans to retire after 20 years with the Company and nearly 40 years in the industry. Both changes are effective June 30, 2020 according to the company announcement in Denver, Colorado.
Dea, who has more than 30 years of experience in the exploration and production industry, will assume leadership of the Ovintiv board, where he has been a member since 2010. Throughout his career, Dea has successfully led both public and private E&P companies and has extensive board experience.
Previously, he served as CEO of Barret Resources (1999-2001); president and CEO of Western Gas Resources (2001-2006); currently president and CEO of Cirque Resources LP (since 2007); and executive chairman of Confluence Resources LP (since 2016). He has a bachelor of arts in geology from Western Colorado University and a master of science in geology from the University of Montana.
In his roles as president and chief operating officer, McAllister has been instrumental in driving exceptional operating performance across the company. Under his leadership, the company has become an industry leader in safety, development of unconventional resources and efficiency.
Upon McAllister’s retirement, CEO Doug Suttles will assume the responsibilities of president.
“I’d like to thank both Clayton and Mike for their countless contributions to Ovintiv over many years. Their efforts have helped us drive innovation, manage challenges and transform Ovintiv into a leading North American resource company,” said Suttles. “We look forward to having Peter as our new board chair. Throughout his 10 years on the Ovintiv board, his counsel, based on many years of diverse experience, has proven invaluable.”
Following Woitas’ retirement, Ovintiv will reduce the board from 12 directors to 11, with 10 classified as independent.