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Devon Energy adds two industry veterans to board

Barbara M. Baumann and John E. Bethancourt wareDevon Energy Corp.'s board of directors, the company said Monday.
BY JAY F. MARKS Modified: January 27, 2014 at 11:17 pm •  Published: January 27, 2014

Devon Energy Corp. expanded its board of directors Monday by adding two new members.

Industry veterans Barbara M. Baumann and John E. Bethancourt were appointed to the board, effective immediately, the company said Monday.

The additions push Devon's board from eight members to 10. Eight of them are independent directors.

“We are very pleased that Barbara Baumann and John Bethancourt have agreed to join Devon's board of directors,” Executive Chairman Larry Nichols said. “Together they bring more than 60 years of distinguished experience in the energy industry that will further strengthen our board.

“We look forward to leveraging their insights and expertise to help guide Devon's strategic decisions.”

Baumann, 58, is a former BP Amoco executive who now owns Cross Creek Energy Corp., an advisory firm with investments in the domestic oil and natural gas business.

Bethancourt, 62, is a retired Chevron executive. He most recently served as executive vice president for technology and services.

Devon did not address why its board added two members, but the Oklahoma City oil producer hasn't had any public squabbles with shareholders like other companies that have remade their boards.

Baumann and Bethancourt bring an element of youth to Devon's board, which had an average age of 65.5 years.

All 10 of Devon's directors will stand for re-election at the company's annual meeting in June.