Helmerich & Payne Inc. (NYSE: HP) announced that Todd Scruggs will become senior vice president and chief financial officer effective July 1, 2026, replacing Kevin Vann who will retire June 30, 2026.

Scruggs currently serves as vice president of corporate finance and treasury at the Tulsa-based drilling company. Vann will remain as a senior advisor through December 31, 2026, to support the transition, according to a company statement.

The leadership changes follow Trey Adams' appointment as president and CEO on March 4, 2026. Adams said the transition provides an opportunity to shape the leadership team that will guide the company forward.

Scruggs has held financial roles at several energy organizations throughout his career. He previously worked in energy trading before joining WPX Energy, where he led treasury and business development efforts involving more than $10 billion in transactions through the company's merger with Devon Energy. Prior to joining Helmerich & Payne in 2024, he worked as a partner at Veriten, leading the firm's investment activities.

"Todd has worked closely with Kevin and our leadership team and brings deep knowledge of our industry, financial priorities and strategic objectives," Adams said.

Vann played a role in supporting the company's acquisition of KCA Deutag and helping guide the organization through integration, according to the statement. Adams thanked Vann for his service during what he called an important chapter in the company's history.

As of February 4, 2026, Helmerich & Payne's fleet includes 203 land rigs in the United States, 137 international land rigs and 5 offshore platform rigs, plus approximately 30 offshore labor contracts.