Hilcorp Energy, one of the largest privately-held producers in the U.S., announced its billionaire owner, Jeff Hildebrand, has stepped down as CEO, but will remain as executive chairman.
“The organizational change comes as the company, a longtime producer in Alaska, Texas and Louisiana, continues to see substantial growth in other legacy assets across the U.S.,” Justin Furnace, a spokesman, told Bloomberg.
Hildebrand, who founded the Houston-based company 29 years ago, is the 209th wealthiest person in the world with a net worth of $7.6 billion, according to Bloomberg data.
Hildebrand has been replaced as CEO by Greg Lalicker, a petroleum engineer who joined the company in 2006 after working at BHP Billiton Ltd.’s oil unit and McKinsey & Co., Kallanish Energy reports.
The change in leadership was announced internally in November, Furnace said. Also at that time, Jason Rebrook, a former executive with GE Capital and Chevron, was named president.
Rebrook’s promotion “allows Hilcorp to focus simultaneously on current asset development and potential future growth,” Furnace told Bloomberg.
