Williams on Thursday announced that its board of directors has appointed Devon Energy’s Richard E. Muncrief and former ExxonMobil executive Jesse J. Tyson as independent directors on the Board, effective March 1, 2022.
Muncrief is currently president and chief executive officer of Devon Energy, having previously served as chief executive officer and chairman of the board of WPX Energy before its merger with Devon in 2021. Prior to joining WPX, he was senior vice president, operations and resource development of Continental Resources, Inc. At Williams, Mr. Muncrief will serve as a member of the Board’s Compensation and Management Committee and the Environmental, Health and Safety Committee.
Tyson built a 35-year global career with ExxonMobil that included leadership roles in marketing, logistics, safety and operations. After retiring from ExxonMobil, he became president and chief executive officer of the National Black MBA Association from 2012 to 2018. At Williams, Mr. Tyson will serve as a member of the Audit Committee and the Sustainability Committee.
In a filing with the Securities Exchange Commission, Williams stated Muncrief and Tyson will each be paid a $110,000 annual cash retainer and $165,000 annual equity retainer in the form of restricted stock units in the company.
“We are extremely pleased to add Richard and Jesse to the Board as we continue to increase bench strength with regard to strategic decision making and corporate governance for the long-term benefit of shareholders,” said Stephen W. Bergstrom, chairman of the Williams Board of Directors. “We believe these two gentlemen bring uniquely diverse skill sets and experiences that will advance our position as a leader in the clean energy economy and help us cultivate an increasingly diverse and inclusive workforce.”
With the appointment of Mr. Muncrief and Mr. Tyson, the Williams Board of Directors consists of 14 members, 13 of whom are independent.
