Apache President Plank Retires, Leon Named Finance Chief

   By Michael Calia 
 

Apache Corp. (APA) on Friday said its president and chief corporate officer, Roger Plank, has decided to retire.

Mr. Plank joined the company in 1981 and eventually became chief financial officer in 1997 and president in 2009, Apache said.

"In nearly 33 years at Apache, Roger has been intimately involved in Apache's direction and profitable growth, and I have valued his insight and perspective on our business, culture and strategy," Chairman and Chief Executive G. Steven Farris said.

Alfonso Leon, meanwhile, will become the company's chief financial officer. The company credited Mr. Leon, who had been chief of staff since 2012, with leading the company's planning, strategy and investor relations.

Apache also named Tom Chambers, a 19-year company veteran, to the new role of senior vice president, finance.

The changes come a day after Apache posted earnings and revenue declines in the fourth quarter due in part to weaker oil and natural gas production. Earlier this week, the company agreed to sell its oil and gas operations in Argentina to YPF SA (YPF) for $852 million.

Shares of Apache rose 2.3% to $82.81 Friday. The stock is down 3.6% so far this year.

Write to Michael Calia at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires