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ConocoPhillips chairman and chief executive, James Mulva speaks during an industry luncheon in this Jan. 31, 2007 file photo in Houston. (Pat Sullivan/AP)
ConocoPhillips chairman and chief executive, James Mulva speaks during an industry luncheon in this Jan. 31, 2007 file photo in Houston. (Pat Sullivan/AP)

ConocoPhillips' CEO to retire when company splits Add to ...

ConocoPhillips named Friday the top executives of the two energy companies that it is splitting into and said current Chief Executive Jim Mulva will retire after completion of the split, which is expected in the second quarter of 2012.

Ryan Lance will become the chairman and chief executive of ConocoPhillips, the exploration and production company, and Greg Garland will be at the helm of the refining and marketing company.

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Mr. Lance and Mr. Garland will take up their positions after the completion of the split.

In July, the integrated oil major said it would spin off its refining arm in a bid to improve investment returns for shareholders, abandoning the bigger-is-better strategy that drove oil giants into mergers.

 
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