Antero Names Michael Kennedy as New CEO, Amid Executive Changes

Denver-based Antero Resources and Antero Midstream announced a major leadership transition Aug. 14 as co-founder Paul Rady stepped down from his roles as CEO, president and chairman of both companies to become chairman emeritus.

Michael  Kennedy, formerly CFO of Antero Resources, has been appointed CEO, president and a member of the board of directors at  both companies, effective immediately.

“Under Paul's leadership, Antero has become the most capital-efficient developer in the Appalachian Basin while maintaining an outstanding safety and environmental record," said Benjamin Hardesty, lead independent director of Antero Resources, in a press release.

Rady co-founded Antero and has served as CEO and chairman since its inception. Under his direction, the Antero chain of companies grew to a combined enterprise value of about $24 billion.

“I am proud of the organizations we have created, and I am confident the companies will continue to prosper under Mike Kennedy's leadership,” Rady said.

Kennedy joined Antero in 2013 and has held financial leadership roles at both Antero Resources and Antero Midstream. He previously worked  as CFO at Forest Oil Corp. and began his career as an auditor at Arthur Andersen.

As part of the transition, the companies are separating the roles of chairman and CEO. Hardesty was appointed chairman of  Antero Resources’  board, while David Keyte, currently lead independent director of Antero Midstream, will be chairman there.

Other changes include the appointment of General Counsel Yvette Schultz to Antero Midstream’s board. Brendan E. Krueger, currently CFO of Antero Midstream, will become CFO of Antero Resources, while working  as treasurer for both companies.

The leadership changes come as Antero looks to capitalize on growing natural gas demand, particularly from LNG exports and data center development, while advancing its upstream and midstream operations in the Appalachian Basin.

Antero forecasts as much as 5 Bcf/d of natural gas demand growth in the region by 2030, executives said during the company’s second-quarter earnings call on July 31.

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