Diamondback Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team and Board of Directors

Leadership Transition - Diamondback Energy, Inc. announced a leadership transition plan, with Travis D. Stice stepping down as CEO effective at the 2025 Annual Meeting of Stockholders, transitioning to Executive Chairman [1][6] - Kaes Van't Hof, the current President, will succeed Stice as CEO and join the Board of Directors [1][6] - Jere Thompson, currently Executive Vice President of Strategy and Corporate Development, has been promoted to Executive Vice President and Chief Financial Officer [1][4][6] Acknowledgment of Leadership - The Board of Directors expressed gratitude for Stice's leadership over the past 14 years, highlighting his role in transforming Diamondback from a small-cap oil producer into one of North America's largest oil and gas companies [2][3] - Stice emphasized the honor of representing the employees and his commitment to remain engaged in the company's strategic development as Executive Chairman [3] Future Strategy - Van't Hof expressed confidence in leading Diamondback into a promising future, indicating that the company's strategy will continue to focus on an "acquire and exploit" model based on best-in-class execution and low-cost operations [3][4] - The company aims to maintain its legacy of success while adapting to future challenges [3] Board Changes - David L. Houston, a long-time Board member, will retire at the conclusion of his term after the 2025 Annual Meeting of Stockholders [4][5]