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FORT WORTH, Texas - TXO Partners, L.P. (NYSE:TXO), a master limited partnership in the energy sector offering a substantial 12.5% dividend yield, has announced a change in its executive leadership. Bob R. Simpson is set to retire from his role as Chief Executive Officer of the company’s general partner, effective April 1, 2025. He will continue to serve as Chairman of the Board of Directors. According to InvestingPro data, TXO has demonstrated strong market performance with a 22% return over the past year.
In line with Simpson’s retirement, the company has promoted Gary D. Simpson and Brent W. Clum to serve as Co-Chief Executive Officers. Gary D. Simpson, who is currently the President of Production and Development, will also join the Board of Directors while maintaining his existing responsibilities. Brent W. Clum will continue in his roles as President of Business Operations, Chief Financial Officer, and Director of the General Partner, in addition to his new position. The leadership transition comes as TXO maintains a "Fair" overall financial health score, with analysts expecting net income growth this year.
Bob R. Simpson expressed confidence in the new leadership, highlighting the depth of experience and the vision that both Gary D. Simpson and Brent W. Clum bring to their new roles. He emphasized the importance of their seasoned knowledge in creating value for shareholders and their ability to inspire the company’s future.
Gary D. Simpson and Brent W. Clum both acknowledged the impact of Bob R. Simpson’s leadership and expressed their commitment to upholding the company’s mission and legacy of success. They emphasized their readiness to lead TXO Partners forward, ensuring the continuation of its success for investors and employees.
TXO Partners specializes in the acquisition, development, and exploitation of conventional oil and natural gas reserves in North America, with a focus on the Permian Basin, San Juan Basin, and Williston Basin.
This leadership transition is based on a press release statement from TXO Partners, L.P. and reflects a strategic move in the company’s executive structure as it prepares for the next phase of its growth and development in the energy industry.
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