internal
Clay M. Gaspar
President and Chief Executive Officer
Executive
1 yr
16 reports
Leadership change Clay M. Gaspar was promoted to President and CEO (from EVP & COO) · DEF 14A filed 2025-04-23
Devon Energy Corporation ·DVN
CEO promotion left Devon temporarily without a COO
Energy · Fortune #267 · Hybrid structure · 2K employees · Oklahoma City, Oklahoma
View as of:
5
CEO span
↓ tighter than peers (avg 8)
2.3
Avg span
tight
3
Max depth
3 levels
4.5 yr
Avg tenure
↓ 1.7yr from FY2024
60%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$16.8B
Operating income
$-2895000000
Net income
$2.6B
Total assets
$31.6B
Shares out
620M
Sourced from Devon Energy Corporation 10-K · filed 2026-02-18 ↗ View on SEC
Interactive org chart
Devon Energy Corporation organizational chart
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Devon Energy operates with a lean executive structure in which CEO Clay Gaspar directly oversees finance, legal, corporate development, operations, and technology. The page details the current leadership team, reporting lines, and how the temporary absence of a COO shapes decision-making.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Clay M. Gaspar moved into President and Chief Executive Officer
Promoted to CEO effective January 2025 following board succession decision.
Source · See change logScenario views in the chart
- Add Chief Operating Officer The board appoints a COO to reduce CEO span of control and prepare for post‑merger integration.
- CFO Departs at Merger Close Jeffrey Ritenour exits the CFO role as planned, requiring rapid financial leadership integration.
Atlas work this supports
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The people
Who's running this
6 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
Open Role
Senior Vice President, E&P Operations
Operations
1 yr
3 reports
internal
Jeffrey L. Ritenour
Executive Vice President and Chief Financial Officer
Finance
7 yr
2 reports
internal
David G. Harris
Executive Vice President and Chief Corporate Development Officer
Corporate Development
5 yr
2 reports
Dennis C. Cameron
Executive Vice President and General Counsel
Legal
4 yr
2 reports
Open Role
Senior Vice President and Chief Technology Officer
Technology
1 yr
2 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.
Richard E. Muncrief $17.0M
- Base salary
- $1.29M
- Stock awards
- $12.40M
- Non-equity incentive
- $2.88M
- Other
- $475K
- Fiscal year
- FY2024
- Source
- SEC DEF 14A ↗
The businesses
How Devon Energy Corporation divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Exploration & Production
2K employees
Senior Vice President, E&P Operations (Open Role)
Manages Devon’s onshore oil and gas production across core U.S. basins.
Finance
200 employees
EVP & CFO (Jeffrey L. Ritenour)
Oversees financial reporting, treasury, tax, and capital allocation.
Corporate Development
150 employees
EVP & Chief Corporate Development Officer (David G. Harris)
Leads mergers, acquisitions, divestitures, and strategic planning.
Technology
150 employees
SVP & Chief Technology Officer (Open Role)
Supports operational efficiency through IT, data, and digital platforms.
The thesis
Why this org is unusual
CEO Clay Gaspar’s promotion from COO created a temporary gap in the COO role, leaving operations to be overseen directly by the CEO and senior vice presidents.
Devon’s structure concentrates accountability at the top, with only a small number of executive officers reporting directly to the CEO.
This arrangement reflects Devon’s enterprise-style model, where functional leaders in finance, legal, technology, and operations retain broad mandates. The absence of a COO increases CEO span of control but simplifies decision-making during the pending Coterra merger.
- No current COO
- CEO promoted internally from COO role
The comparison
How Devon Energy Corporation stacks up
Compared with peers such as EOG Resources and ConocoPhillips, Devon’s executive team is smaller and flatter. Many peers retain a dedicated COO, while Devon currently does not, which is atypical for a mid‑cap E&P company. However, Devon’s streamlined structure mirrors Diamondback Energy’s emphasis on lean corporate …
C-suite size
Reporting depth
Devon Energy Corporation
3 levels
4 levels
5 levels
4 levels
APA Corporation
4 levels
Avg C-suite tenure
Devon Energy Corporation
5 yr
6 yr
7 yr
APA Corporation
6 yr
Has COO / Has CAIO
Devon Energy Corporation — no COO — no CAIO
APA Corporation ✓ COO — no CAIO
Current signals
What changed recently
The most consequential change was Clay Gaspar’s promotion to CEO, leaving Devon without a dedicated COO.
- Date not confirmed promotedClay M. Gaspar President and Chief Executive Officer
Promoted to CEO effective January 2025 following board succession decision.
Source - Date not confirmed reorgJeffrey L. Ritenour Executive Vice President and Chief Financial Officer
Announced transition of CFO role to Coterra CFO contingent on merger closing, Feb 2, 2026.
Source - Date not confirmed departedDennis C. Cameron Executive Vice President and General Counsel
Announced departure effective at closing of Coterra merger, Feb 2, 2026.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
10-K filed 2026-02-18
- CEO
- Clay M. Gaspar
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 4.5 yr
First full year with Gaspar as CEO and no COO role.
Named executive officers (4)
- Clay M. Gaspar - President and CEO since 2025
- Jeffrey L. Ritenour - EVP & CFO since 2018
- David G. Harris - EVP & Chief Corporate Development Officer since 2019
- Dennis C. Cameron - EVP & General Counsel since 2021
FY2024
DEF 14A filed 2025-04-23
- CEO
- Richard E. Muncrief
- CEO span
- 6
- C-suite
- 6
- Avg tenure
- 6.2 yr
Traditional CEO–COO structure prior to succession.
Named executive officers (5)
- Richard E. Muncrief - President & CEO since 2021
- Clay M. Gaspar - EVP & COO since 2019
- Jeffrey L. Ritenour - EVP & CFO since 2018
- David G. Harris - EVP & Chief Corporate Development Officer since 2019
- Dennis C. Cameron - EVP & General Counsel since 2021
FY2023
DEF 14A filed 2024-04-24
- CEO
- Richard E. Muncrief
- CEO span
- 6
- C-suite
- 6
- Avg tenure
- 5.8 yr
Stable executive team with defined COO role.
Named executive officers (5)
- Richard E. Muncrief - President & CEO since 2021
- Clay M. Gaspar - EVP & COO since 2019
- Jeffrey L. Ritenour - EVP & CFO since 2018
- David G. Harris - EVP & Chief Corporate Development Officer since 2019
- Dennis C. Cameron - EVP & General Counsel since 2021
Year-over-year changes
Devon executed CEO succession, eliminating the COO role and slightly reducing CEO span.
- CEO span: 6 → 5
- C-suite size: 6 → 5
- Avg tenure: 6.2 → 4.5 yr
- promoted Clay M. Gaspar - President and CEO (was EVP & COO) (DEF 14A filed 2025-04-23)
Frequently Asked Questions
Who is the CEO of Devon Energy?
Clay M. Gaspar has served as President and CEO since January 2025.
What type of organizational structure does Devon Energy use?
Devon uses a hybrid enterprise structure combining functional leadership with basin-focused operations.
How many direct reports does Devon Energy's CEO have?
The CEO currently has five direct executive reports.
How has Devon Energy's leadership changed recently?
Devon promoted Clay Gaspar to CEO in 2025 and announced CFO and General Counsel changes tied to the pending Coterra merger in February 2026.
Does Devon Energy have a COO?
No. Following Clay Gaspar’s promotion, Devon does not currently have a dedicated Chief Operating Officer.
Sources
- Company Proxy Statement, Apr 2025
- 8-K Filing, Feb 2026
- SEC EDGAR: Devon Energy Corporation DEF 14A Proxy Statement
- SEC EDGAR: Devon Energy Corporation 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). Devon Energy Corporation organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/devon-energy/MLA 9th
"Devon Energy Corporation Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/devon-energy/. Accessed .Chicago 17
Creately. "Devon Energy Corporation Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/devon-energy/.Original SEC source View on SEC ↗
Devon Energy Corporation. 10-K. Filed 2026-02-18. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1090012/000119312526056485/dvn-20251231.htmPermanent URL: https://creately.com/org-chart/fortune-500/devon-energy/ · last updated 2026-04-01