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Posted 19 August, 2022

CONTINENTAL RESOURCES, INC appointed new CEO

CEO Change detected for ticker NYSE:CLR in a 8-K filed on 19 August, 2022.


  On August 17, 2022 (the "Approval Date"), the Board of Directors (the "Board") of Continental Resources, Inc. (the "Company") approved the appointment of Robert D. ("Doug") Lawler to serve as the Company's President, transitioning the role from William B. Berry, who will continue to serve as the Company's Chief Executive Officer.  

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Overview of CONTINENTAL RESOURCES, INC
Companies on the Energy Service • Oil Extraction
Continental Resources, Inc. is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm's operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.
Market Cap
$25.4B
View Company Details
CONTINENTAL RESOURCES, INC by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers 


On August 17, 2022 (the "Approval Date"), the Board of Directors (the "Board") of Continental Resources, Inc. (the "Company") approved the appointment of Robert D. ("Doug") Lawler to serve as the Company's President, transitioning the role from William B. Berry, who will continue to serve as the Company's Chief Executive Officer. In this new role, Mr. Lawler will continue to report to Mr. Berry, with the title of President and Chief Operating Officer. 

Mr. Lawler, 56 has served as our Chief Operating Officer and Executive Vice President since joining the Company in February of 2022. Prior to joining the Company, he served most recently as the President and Chief Executive Officer of Chesapeake Energy Corporation from June 2013 to April 2021. Chesapeake voluntarily filed for Chapter 11 bankruptcy protection in June of 2020 and emerged from bankruptcy in February of 2021. Mr. Lawler has served as a director of Pilot Travel Centers LLC (dba Pilot/Flying J) since 2016. Mr. Lawler holds a degree in petroleum engineering from the Colorado School of Mines and an M.B.A. from Rice University. There was no arrangement or understanding between Mr. Lawler and any other person(s) pursuant to which he was selected to be President and Chief Operating Officer of the Company, and Mr. Lawler does not have any family relationships with any of the Company's executive officers or directors. Mr. Lawler is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended. 

In connection with Mr. Lawler's appointment as President and Chief Operating Officer, the Compensation Committee of the Board (the "Committee") determined that effective August 1, 2022, Mr. Lawler's annual base salary will be $715,000. His annual bonus target remains unchanged at 100% of his annual base earnings. His annual restricted stock award will have a target value of $3,950,000, vesting at the end of the third year after the grant. On the Approval Date, the Committee also awarded Mr. Lawler an aggregate of 17,238 restricted shares, vesting in increments of 2,117, 5,746 and 9,375 shares on February 15, 2023, 2024 and 2025, respectively.