Retirement at Noble Energy paves way for new CFO
James McElvany, CFO and treasurer of Noble Energy, is to retire after 25 years with the US energy company, for five of which he has been CFO. McElvany's successor will be Chris Tong who was most recently CFO for Magnum Huner Resources, a US exploration and production company. He has also held finance positions at Tejas Gas Corporation and in several commercial banks.
Noble Energy CEO Charles Davidson says: ?While James (McElvany) will be missed, Noble Energy is very fortunate to be able to have Chris Tong joining us. We have great confidence that Chris' banking and oil and gas experience will be instrumental in helping Noble Energy continue to grow successfully through its strong platform of domestic and international assets.?
Noble Energy's third quarter results reported net income of $83.7 million, a 138% increase compared to the same period last year, and discretionary cash flow of $189.1 million, representing a 23% increase.