The Williams Companies, Inc. (WMB, Financial) has announced the appointment of Larry Larsen as Executive Vice President and Chief Operating Officer, effective May 3, 2025. Mr. Larsen, who is 50 years old, has been with the company since 1999 and has held various leadership roles, most recently serving as Senior Vice President of Gathering and Processing since March 2022.
Mr. Larsen's extensive experience within the company includes positions such as Vice President Strategic Development, Vice President and General Manager Rocky Mountain Midstream, Vice President Central Services, and Vice President and General Manager Piceance. He holds a bachelor's degree in mechanical engineering from the University of Utah.
In his new role, Mr. Larsen will receive an annual base salary of $675,000. Additionally, he will be granted a one-time off-cycle restricted stock unit award totaling $1,187,500, split equally between time-based and performance-based RSUs, under The Williams Companies, Inc. 2007 Incentive Plan. He will also be eligible for an award under the company's annual incentive plan, targeting 110% of his annual base salary, with actual bonus payments determined by the company's Compensation and Management Development Committee based on performance and other factors.
Mr. Larsen will participate in long-term incentive awards through a combination of performance-based and time-based RSUs, with actual awards based on company and individual performance and competitive market data. He will also be eligible for other executive benefits, including participation in The Williams Companies, Inc. Executive Severance Pay Plan and a Tier One Change in Control Agreement for executive officers.
There are no arrangements or understandings between Mr. Larsen and any other person that led to his selection as an officer, nor are there any existing relationships with the company or its subsidiaries that require disclosure.
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