Ryan Lance in 2023. (F. Carter Smith/Bloomberg)Key Takeaways: ConocoPhillips said Aug. 6 that CEO Ryan Lance will retire Sept. 1 and CFO Andy O’Brien will succeed him as chief executive. The leadership transition affects one of the largest oil companies, with Lance citing free cash flow growth, shareholder returns and energy demand. Lance will become executive chair, Konnie Haynes-Welsh will become CFO and ConocoPhillips shares rose 1% in premarket trading Aug. 6. ConocoPhillips announced that Ryan Lance will retire after 14 years as the top boss and be succeeded by his financial chief Andy O’Brien next month.