Cobalt International Energy, an exploration and production company, focused in offshore North America and West Africa, has named Shannon E. Young, III as new Chief Financial Officer (CFO) and Executive Vice President.
Young is currently Senior Vice President & Chief Financial Officer for Talos Energy LLC. He replaces John P. Wilkirson, who has, according to Cobalt, indicated his desire to pursue other interests.
These changes are effective September 1, 2015, and Wilkirson will remain as a consultant to Cobalt through the end of October to ensure a smooth executive transition, the company said.
Commenting on these changes, Joseph H. Bryant, Cobalt’s Chairman and Chief Executive Officer, said: “I am extremely pleased that Shane has agreed to join Cobalt at this time of exceptional opportunity and challenge. Shane’s deep experience in Capital Markets, Investment Banking, and M&A will be put to full use as Cobalt continues to grow. His background is a perfect match for Cobalt at this point in our life-cycle.”
“I wish John all the best as he leaves Cobalt and want to thank him on behalf of the Board of Directors and the rest of the Cobalt team for his many years of service,” Bryant added.
Commenting on his new assignment Young said: “I’m excited about joining the Cobalt team and being an integral part of this great company with such a bright future. Cobalt’s reputation as a leading explorer and operator is well known in the industry. I look forward to progressing and strengthening Cobalt’s financial foundation so that it remains a premier global exploration and production company.”
John Wilkirson said: “My time at Cobalt has been truly special as the company matured from the private start-up to today’s successful public entity. During the past five years as CFO, I appreciated the opportunity to have led multiple significant and innovative financings. I feel the timing is right to make this transition and I wish the company all the best in their future endeavors.”