Vitesse Energy Replaces Founder in CEO Shake-Up, Taps Industry Vet Benard

GREENWOOD VILLAGE, Colo. – March 26, 2026 – Vitesse Energy announced a sweeping leadership overhaul on Tuesday, as founder Bob Gerrity immediately resigned as Chief Executive Officer and Chairman, marking the end of an era for the non-operator oil and gas firm he built over 13 years. In his place, the Board of Directors has appointed industry veteran Jamie Benard as the new President and Chief Executive Officer, effective May 1, 2026.

The transition, described by the company as the result of a "thorough succession planning process," signals a pivotal moment for the NYSE-listed company. President Brian Cree, a long-time executive, will step in as Interim CEO to bridge the gap until Benard’s arrival, after which Cree will retire. The move installs a new generation of leadership tasked with steering Vitesse's unique capital-return strategy through the next phase of its growth.

Founder's Sudden Exit and Legacy

Bob Gerrity’s departure is both immediate and conclusive. Having founded Vitesse and guided its growth for over a decade, his resignation as CEO, Chairman, and a board member marks a definitive handover. While sudden, the company has framed the exit as amicable.

“On behalf of the Board of Directors, I would like to thank Bob for his leadership as he spearheaded the growth and success of the Company over the last decade,” stated Dan O’Leary, the Lead Independent Director who will now take over as Chairman of the Board.

In his own statement, Gerrity expressed pride in the company's trajectory. “I am proud of the accomplishments of Vitesse over the past 13 years. I am confident in the Vitesse team and the Company's future and look forward to the next chapter in my career.”

Behind the scenes, the terms of the separation have been clearly defined. According to company filings, Vitesse and Gerrity entered into a separation agreement that includes a lump-sum cash payment of $2.4 million and reimbursement for legal fees. The agreement also binds Gerrity to a nine-month non-compete clause, a standard but significant detail in the competitive energy sector. As of late February, Gerrity held over 1.1 million shares of Vitesse stock, valued at approximately $23 million, underscoring his deep financial ties to the company he created.

A New Era Under Jamie Benard

The board’s choice to lead Vitesse into its next chapter is Jamie Benard, an executive with more than two decades of experience across the energy landscape. His appointment is positioned as a strategic move to accelerate the company’s priorities and enhance long-term stockholder value.

Benard’s resume showcases a strong record of operational leadership and commercial execution. He most recently served as President of SOGC, LLC, the former Sinclair Oil & Gas Company, where he was responsible for strategy, operations, and capital allocation. Before that, he was President and Chief Operating Officer at Summit Discovery Resources LLC, an upstream exploration and production company. His career also includes time as a chief financial analyst and in various engineering roles, giving him a well-rounded perspective on both the financial and technical sides of the business.

This background in direct operations and E&P company management is particularly noteworthy given Vitesse’s non-operator model, which focuses on owning financial interests in wells drilled by others. Benard’s expertise could bring a new level of scrutiny and sophistication to how Vitesse selects its investments and partners.

In a statement, Benard signaled his intention to build upon the existing framework. “I am honored to join Vitesse and build on the strong foundation the Company has established,” he said. “Vitesse’s disciplined approach to capital allocation, commitment to stockholder returns, and deep bench of talent position the Company well for continued success.”

Benard’s compensation package reflects the board's confidence, including a $600,000 base salary, a target bonus of 100% of salary, and a substantial $4.0 million equity grant upon joining.

Ensuring a Seamless Transition

To manage the change, Vitesse has established a clear interim structure. Company President Brian Cree, who has been with Vitesse since its inception, will serve as Interim CEO. His deep institutional knowledge is seen as crucial for maintaining stability.

“Brian has been with Vitesse since its inception and has played a key role in building the Company into what it is today. The Board looks forward to Brian’s leadership as Interim Chief Executive Officer and expects a seamless transition,” O’Leary commented.

Cree’s leadership is temporary by design. Following Benard's start on May 1, Cree will transition to a senior advisory role through the end of 2026 before his official retirement. This extended handover period ensures continuity and allows for a comprehensive transfer of knowledge to the new CEO. Further stabilizing the executive suite, Chief Financial Officer James Henderson will remain in his role, providing a steady hand on the company’s finances throughout the transition.

Strategic Position and Future Outlook

The leadership shake-up comes at a time of strength for Vitesse Energy. The company's non-operator model, which minimizes overhead and operational risk while maximizing capital returns to shareholders, has performed well. In 2025, Vitesse saw its production increase by 34% to an average of 17,444 barrels of oil equivalent per day, driven in part by the successful acquisition and integration of Lucero Energy.

The company generated nearly $49 million in free cash flow in 2025 and has been a consistent dividend payer, returning $2.25 per share to investors last year. With a low debt ratio and 64% of its 2026 oil production hedged at favorable prices, the firm appears financially robust.

This solid footing provides Benard with a strong platform from which to launch his own strategic initiatives. His challenge will be to leverage his operational and commercial acumen to enhance Vitesse’s disciplined investment strategy. Analysts will be watching closely to see how he approaches capital allocation, future acquisitions—like the recently announced $35 million deal for Powder River Basin assets—and the management of the company’s vast portfolio of undeveloped resources, which represent the core of its long-term value proposition. The transition from a founder-led company to one managed by an outside professional marks a maturation point for Vitesse, with stockholders anticipating that this new chapter will unlock further growth and value.