Leadership Changes at HighPeak Energy, Inc. Lead to New CEO
Leadership Transition at HighPeak Energy, Inc.
HighPeak Energy, Inc. (NASDAQ: HPK), located in Fort Worth, Texas, has recently made significant changes in its executive leadership. The Board of Directors and Mr. Jack Hightower have confirmed his upcoming retirement from the roles of Chief Executive Officer, Chairman, and board member. This transition marks a new chapter for the company as it positions itself for future growth.
Michael L. Hollis Takes the Helm
In line with this leadership change, Michael L. Hollis, who has served as President since 2020, has been appointed as Interim Chief Executive Officer of HighPeak Energy. Hollis has a wealth of experience, boasting over 25 years in the oil and gas industry. His previous role as President and COO of Diamondback Energy, a well-respected entity in the Permian Basin, showcases his deep understanding of the industry.
Hightower’s Legacy at HighPeak Energy
Mr. Hightower expressed confidence in Hollis’s capabilities, stating, "Michael has been well-respected in the industry for decades... I believe HighPeak is poised to build on its past successes and continue as an industry leader." His retirement will allow him to focus on personal endeavors, as he has contributed significantly to the company's vision and operational strategies since its inception.
Acknowledging Contributions and Future Vision
As Hollis steps into his new role, he aims to honor Hightower's legacy. He remarked, "I am truly honored to step into the role of CEO and look forward to working closely with the Board and leadership team to advance our strategic priorities." This commitment to collaboration underscores the company's dedication to maintaining stability during this transition.
Retirement from Highpeak Funds Management
In conjunction with Hightower's retirement, he will also cease management of HighPeak Energy Partners, LP and related entities, which collectively hold a significant portion of the company's common stock. This shift will see the management of these funds transition to a committee including Hollis along with other executives, ensuring continuity in leadership.
About HighPeak Energy, Inc.
HighPeak Energy, Inc. stands as a publicly traded independent crude oil and natural gas entity, concentrating on the acquisition, development, and exploitation of oil and gas reserves, particularly within the Midland Basin area of West Texas. The company is committed to leveraging its assets to deliver exceptional value to its shareholders.
Frequently Asked Questions
1. Who is the new CEO of HighPeak Energy?
Michael L. Hollis has been appointed as the Interim Chief Executive Officer effective immediately.
2. What prompted Jack Hightower's retirement?
Jack Hightower decided to retire to focus on his health and personal pursuits after years of leadership at HighPeak.
3. What is Hollis's experience in the oil and gas industry?
Michael L. Hollis has over 25 years of industry experience, including senior roles at Diamondback Energy before joining HighPeak Energy.
4. What changes are happening at HighPeak regarding fund management?
Following Hightower’s retirement, management of HighPeak Energy Funds will shift to a committee, ensuring a seamless transition of leadership.
5. What are the future plans for HighPeak Energy?
With Hollis at the helm, HighPeak Energy is expected to continue building on its past successes and enhance its position in the industry.
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