Expand Energy announces CEO departure, to move headquarters to Houston

Feb 9 (Reuters) - Natural gas producer Expand Energy EXE.O on Monday announced the departure of CEO Domenic Dell'Osso and also said it plans to relocate its corporate headquarters to Houston from Oklahoma City this year.

Chairman Michael Wichterich has been appointed interim chief, effective immediately, the company said. Dell'Osso will serve as an external adviser for a period to support the transition.

Wichterich has served as chairman since 2021 and previously held the interim CEO role in 2021.

The leadership change comes after Expand, formerly known as Chesapeake Energy, reshaped itself into the largest independent U.S. natural gas producer through its $7.4 billion acquisition of Southwestern Energy in October 2024.

Dell'Osso joined the company in 2008 and was appointed CEO in October 2021 and oversaw the deal that expanded the company's scale and geographic footprint.

He is the second senior executive to depart the company in recent months.

Last year, Chief Financial Officer Mohit Singh, who had held the role since 2021, left following a termination without cause.

Shares of the company were down 6% in morning trade on Monday.

"This reaction relates to market uncertainty over the changes, especially since EXE has yet to announce the permanent CFO replacement," said RBC Capital Market analyst Scott Hanold.

The company added that the move to Houston, expected in mid-2026, will primarily involve its executive leadership team and is aimed at strengthening relationships with key industry and commercial partners.

Houston has increasingly attracted energy company headquarters as producers seek closer access to LNG export terminals, capital markets and global customers amid rising demand for U.S. natural gas.

Expand's planned relocation follows other steps to shrink the company's Oklahoma City footprint.

Reuters reported last year that Expand was exploring the sale of most of its former Chesapeake Energy campus in the city, once the headquarters of a company synonymous with the U.S. shale boom.