Scott D. Sheffield
Scott D. Sheffield | |
|---|---|
| Born | 1952 or 1953 (age 70–71)[1] |
| Nationality | American |
| Occupation | Businessman |
| Title | President & CEO, Pioneer Natural Resources |
| Term | August 1997 - December 2016 February 2019 - |
| Successor | Timothy Dove |
| Spouse | Kimberly Sheffield |
| Children | 5, including Bryan Sheffield |
Scott Douglas Sheffield (born 1952/53) is an American businessman and the former president and chief executive officer (CEO) of Pioneer Natural Resources Company.
Early life[edit]
Sheffield received a bachelor's degree in petroleum engineering from the University of Texas.[1]
Career[edit]
Sheffield became a director of Pioneer Natural Resources in August 1997, when he became the company's founding CEO.[1] He had been an executive officer of one of its predecessors, Parker & Parsley Petroleum Co., since 1989.[2]
Sheffield joined Parker & Parsley as a petroleum engineer in 1979 and was promoted to vice president-engineering in September 1981, elected president and a director in April 1985, and became chairman of the board and CEO on Jan. 19, 1989.[2]
Before joining Parker & Parsley, Sheffield was a production and reservoir engineer for Amoco Production Co.[2]
At the end of 2016, he retired as CEO to a 2,300-acre ranch near Santa Fe, New Mexico, that he purchased from Jane Fonda.[3]
On Jan. 1, 2017, he was succeeded by Timothy Dove as CEO.[4][1]
Sheffield held the position of Executive Chairman of Pioneer through 2017, retiring entirely at year-end 2017.[2]
In February 2019, he returned to Pioneer as President & CEO upon the retirement of successor CEO Timothy Dove.[5]
In 2021, Sheffield stepped down as President but continued to served as CEO of Pioneer from 2021 through 2023.[6]
He currently serves on Pioneer's board of directors and as Special Advisor to Pioneer CEO Richard P. Dealy.[7]
He is also on the advisory board of L1 Energy.[8]
Collusion allegations[edit]
In May 2024, as part of its antitrust review of the acquisition of Pioneer Natural Resources by ExxonMobil, the Federal Trade Commission (FTC) alleged that Sheffield illegally colluded with OPEC and a related cartel of oil-producing countries known as OPEC+ to raise oil prices at the expense of US households and businesses.[9] In the complaint filed by the FTC, Sheffield is quoted as having said of his own behavior, "I was using the tactics of OPEC+ to get a bigger OPEC+ done."[9]
In response, Pioneer said in a statement that the FTC's complaint "misreads the nature and intent of Mr. Sheffield's actions."[7]
According to Semafor, the FTC also plans to recommend potential criminal charges be brought by the Department of Justice against Sheffield.[10]
Personal life[edit]
Sheffield is married to Kimberly, they have five children, and live in Irving, Texas.[11]
References[edit]
- ^ a b c d "Executive Profile: Scott Douglas Sheffield". Bloomberg. Retrieved 11 August 2017.
- ^ a b c d "Document". www.sec.gov. Retrieved 2021-06-28.
- ^ "A leader of America's fracking boom has second thoughts". www.msn.com. Retrieved 25 June 2019.
- ^ "Pioneer Natural Resources Company Chairman and CEO Scott D. Sheffield to Retire; Timothy L. Dove Named Successor". www.businesswire.com. 19 May 2016. Retrieved 11 August 2017.
- ^ O’Donnell, Paul (22 February 2019). "Dove to retire; Sheffield returning as CEO". Midland Reporter-Telegram. Retrieved 23 May 2019.
- ^ "Pioneer Natural Resources Announces that Richard P. Dealy Commences Role as Chief Executive Officer". Yahoo! Finance. 2024-01-02. Retrieved 2024-05-04.
- ^ a b The Associated Press (2024-05-02). "FTC bars former Pioneer CEO in Exxon Mobil deal, saying he colluded with OPEC". NPR. Archived from the original on 2024-05-02. Retrieved 2024-05-04.
- ^ "Scott D Sheffield - LetterOne". www.letterone.com. Retrieved 11 August 2017.
- ^ a b Helman, Christopher (2024-05-02). "FTC Alleges Pioneer CEO Colluded To Boost Oil Prices — Exxon Will Close $65B Acquisition Anyway". Forbes. Archived from the original on 2024-05-02. Retrieved 2024-05-04.
- ^ Hoffman, Liz (2024-05-02). "FTC plans to recommend possible criminal case against ex-Pioneer CEO". Semafor. Archived from the original on 2024-05-02. Retrieved 2024-05-04.
- ^ Grant, Lauren. "Connect". Petroleum & Geosystems Engineering Department. Retrieved 2021-06-28.
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