Devon Energy Corporation (NYSE:DVN) today announced that its board of directors has appointed Barbara M. Baumann and John E. Bethancourt to the board effective immediately. The additions of Baumann and Bethancourt expand Devon’s board to 10 members, which now includes eight independent directors. Shareholders of record will have the opportunity to re-elect all directors at the company’s upcoming annual meeting to be held on June 4, 2014.
“We are very pleased that Barbara Baumann and John Bethancourt have agreed to join Devon’s board of directors,” said J. Larry Nichols, Devon’s executive chairman. “Together they bring more than 60 years of distinguished experience in the energy industry that will further strengthen our board. We look forward to leveraging their insights and expertise to help guide Devon’s strategic decisions.”
Barbara M. Baumann, 58, is a former BP Amoco executive who currently serves as president and owner of Cross Creek Energy Corporation, an energy advisory firm with investments in the domestic oil and gas business. Prior to founding her own firm in 2003, Baumann was executive vice president of Associated Energy Managers, a private equity firm investing in small energy companies. Ms. Baumann began her 18-year career with Amoco (later BP Amoco) in 1981. She served in various areas of finance and operations, including chief financial officer of Ecova Corporation, Amoco’s wholly-owned environmental remediation business, and vice president of Amoco’s San Juan Basin business unit. Ms. Baumann also serves on the boards of SM Energy Company and UNS Energy Corporation, as well as the board of trustees for Putnam Investments, Inc. Ms. Baumann earned a bachelor’s degree from Mount Holyoke College and a master’s in business administration from the Wharton School of the University of Pennsylvania.
John E. Bethancourt, 62, is a retired Chevron executive. Mr. Bethancourt most recently served as executive vice president for technology and services where he was responsible for overseeing Chevron’s environmental, health and safety efforts, major project management, procurement, and mining operations. Mr. Bethancourt began his career in 1974 with Getty Oil Company and joined Texaco Inc. in 1984 when the two companies merged. During his career with Texaco and later Chevron, Mr. Bethancourt served in various executive leadership roles overseeing business development, worldwide production operations and human resources. He serves on the board of trustees of the Texas A&M Foundation and is a past director of both the Society of Petroleum Engineers and the National Action Council for Minorities in Engineering, Inc. Mr. Bethancourt earned a bachelor’s degree in petroleum engineering from Texas A&M University.