Devon Energy Announces Pending Retirements of Darryl Smette, EVP of Marketing, Facilities, Pipeline & Supply Chain, and Frank Rudolph, EVP of Human Resources; Tony Vaughn, EVP of E&P, Promoted to COO as Company Restructures Senior Leadership Team

OKLAHOMA CITY--()--Devon Energy Corp. (NYSE: DVN) announced today that Darryl Smette, executive vice president of Marketing, Facilities, Pipeline & Supply Chain, and Frank Rudolph, executive vice president of Human Resources, both plan to retire in July. Additionally, the Company said that Tony Vaughn, executive vice president of Exploration and Production (E&P), is being promoted to chief operating officer.

In related moves, Tana Cashion, vice president of Human Resources, is being promoted to senior vice president of Human Resources, reporting to President and CEO Dave Hager, and Sue Alberti, senior vice president of Marketing, will assume the Supply Chain and Evaluation & Planning organizations upon Smette’s retirement and report to Vaughn. Tracy Carter, 45, vice president, will continue to oversee Devon’s Facilities & Pipeline function and report to Mike Stover, 51, senior vice president of Strategic Services.

“We want to thank both Darryl and Frank for their years of distinguished service at Devon and for their many contributions to our Company’s success,” Hager said. “While we’ll miss their valued counsel and commitment to Devon’s values, we’ll continue to have a strong leadership team to push Devon forward through these challenging times and beyond.”

Smette, 68, joined Devon in 1986 and was elected to the position of executive vice president of Marketing and Midstream in 1999. Smette is a member of the Oklahoma Independent Petroleum Association, Natural Gas Association of Oklahoma and American Gas Association. He serves on the board of directors of EnLink Midstream Partners, LP, and EnLink Midstream, LLC.

Rudolph, 58, was elected to his current position in 2007. In the seven years before joining Devon, Rudolph was vice president of Human Resources for Banta Corp., an international printing and supply chain management company with 9,000 employees. His career in human resources spans more than 25 years.

Before joining Devon in 1999, Vaughn, 58, spent 12 years with Kerr-McGee Corp. and, prior to that, worked as an operations engineer for Amoco Production Co. He holds a Bachelor of Science degree in petroleum engineering from the University of Tulsa and a Bachelor of Science degree in business management from Oral Roberts University. He serves on the board of directors of EnLink Midstream Partners, LP.

Upon Smette’s and Rudolph’s retirements, Devon’s Executive Committee will be comprised of Hager and Vaughn as well as Alan Marcum, executive vice president of Administration; Tom Mitchell, executive vice president and chief financial officer; and Lyndon Taylor, general counsel and executive vice president of Legal.

Cashion, 44, began her career with Devon in 2005 and was promoted to vice president of Human Resources in 2010. During her more than 20 years in human resources, Cashion has worked in the oil and gas, retail and wholesale industries. She has a Bachelor of Arts degree in political science from Pepperdine University and a master’s degree in business administration from the University of Oklahoma.

Alberti, 58, joined Devon in 2008 and was named senior vice president of Marketing in January 2012. Prior to that, she served as vice president of Compensation and Benefits. Before joining Devon, Alberti worked at Texas Instruments for seven years and at Atlantic Richfield (ARCO) for more than 20 years in engineering, finance and human resources. She holds a Bachelor of Science degree in chemical engineering from the University of Michigan and a master’s degree in business administration and finance from the University of Chicago.

Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The company is the second-largest oil producer among North American onshore independents. For more information, please visit www.devonenergy.com.

Contacts

Devon Energy Corporation
Investor Contacts
Howard Thill, 405-552-3693
Scott Coody, 405-552-4735
Shea Snyder, 405-552-4782
Media Contact
John Porretto, 405-228-7506

Contacts

Devon Energy Corporation
Investor Contacts
Howard Thill, 405-552-3693
Scott Coody, 405-552-4735
Shea Snyder, 405-552-4782
Media Contact
John Porretto, 405-228-7506