HighPeak Energy names Michael Hollis interim CEO as Jack Hightower retires

HighPeak Energy, Inc. (NASDAQ: HPK) announced that Jack Hightower will retire from his positions as Chief Executive Officer, Chairman of the Board, and director of the Fort Worth-based oil and gas company.

Michael L. Hollis, current President and Board member, has been appointed Interim Chief Executive Officer effective immediately. Hollis has served as President of HighPeak and Board member since 2020 and brings over 25 years of oil and gas experience to the role.

Prior to joining HighPeak, Hollis served as President and Chief Operating Officer of Diamondback Energy, Inc. (NASDAQ: FANG) from January 2017 through September 2019. He previously held positions as COO and Vice President of Drilling at the Permian-focused producer.

Hightower cited health and personal priorities as reasons for stepping down. "Stepping away from my roles affords me the time I need to focus on my health and personal endeavors," Hightower said in the announcement.

The leadership changes extend beyond the company itself. Hightower will also retire from managing the HighPeak Funds, which collectively own approximately 64.4% of the company's common stock. These funds will now be managed by a committee comprising Hollis, Daniel Silver, and Ryan Hightower.

Daniel Silver has been appointed to the Board of Directors to replace Hightower, effective immediately. Silver serves as Vice President of Finance at HighPeak Energy.

HighPeak Energy focuses on acquisition, development, and exploration of unconventional crude oil and natural gas reserves in the Midland Basin in West Texas.

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