January 11, 2018
Bryan Sheffield is leaving his role as CEO of Parsley Energy Inc. this month to become the company’s executive chairman.
The company said this week that Matt Gallagher is the new CEO, moving up from president and COO.
As part of a succession plan, Parsley’s board of directors has separated the CEO and chairman roles.
The company’s lead director, Ray Alameddine, said Gallagher and Sheffield are already working closely together to make strategic decisions.
Sheffield helped found Parsley and has been instrumental in its growth, the company said.
He had originally hoped to build a company worth $20 million, but he said it’s worth much more now.
“We had worked hard and built a $400 million company.”
“I am confident that Matt is the right person to lead as CEO,” Sheffield said, “and I am excited to work with him in our current roles for the remainder of this year, as executive chairman throughout 2019, and as chairman thereafter