05:47 PM EST, 02/20/2025 (MT Newswires) -- Diamondback Energy ( FANG ) on Thursday said Travis Stice will step down as chief executive but remain as executive chairman through the company's 2026 annual meeting.

Stice will be replaced by Kaes Van't Hof, currently president of the company, effective as of the company's 2025 annual meeting. Van't Hof will also join the company's board.

Meanwhile, Jere Thompson III has been promoted to chief financial officer, effective immediately, the company said.

Diamondback Energy ( FANG ) also said David Houston will retire from the board at the company's 2025 annual meeting.