Noble Energy’s board of directors has elected David L. Stover as president and CEO, succeeding Charles D. Davidson as CEO, the company said in a news release.

Stover's election is consistent with the management succession plan disclosed in April of this year when it was announced that Davidson would be retiring on May 1, 2015. Stover has previously been serving as the company’s president and COO.

Davidson will continue to serve as the company’s chairman until the 2015 annual meeting at which time he will be leaving the board, the release said. The board also announced that it intends to elect Stover as board chairman immediately following the 2015 meeting.

The company also announced that Susan M. Cunningham has been elected executive vice president responsible for Noble’s global exploration, new ventures, frontier, environmental, health, safety, regulatory and business innovation activities. In addition, Gary W. Willingham has been elected executive vice president responsible for Noble’s global production, drilling, major projects and supply chain activities. Cunningham and Willingham will report directly to Stover.