Talos Announces Management Update

Rhea-AI Summary

Talos Energy (NYSE: TALO) has announced a key management change with Gregory M. Babcock appointed as Interim Chief Financial Officer, effective June 28, 2025. Babcock, currently serving as Vice President and Chief Accounting Officer, will replace departing CFO Sergio L. Maiworm Jr., who is pursuing a new opportunity. Maiworm will continue in his role until June 27, 2025. Babcock brings over 17 years of industry experience and has been with Talos since 2014. The company has initiated a search for a permanent CFO and emphasized that this transition is not related to any financial reporting or internal control issues. Importantly, Talos has reaffirmed its production guidance for Q2 2025 and its operational and financial guidance for full-year 2025.

Positive

• Smooth transition period planned with current CFO staying until June 27, 2025
• Interim CFO has 17 years of industry experience and 11 years with the company
• Company reaffirmed Q2 and full-year 2025 guidance
• Change not related to financial reporting or internal control issues

Negative

• Loss of experienced CFO Sergio Maiworm to another opportunity
• Uncertainty period until permanent CFO is appointed

HOUSTON, May 19, 2025 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that Gregory M. Babcock, the current Vice President and Chief Accounting Officer, has been appointed Interim Chief Financial Officer ("Interim CFO") of the Company, effective June 28, 2025 to replace Sergio L. Maiworm Jr., the Company's Executive Vice President and CFO, who has chosen to pursue a new opportunity. Mr. Maiworm will remain with Talos and continue to serve as Chief Financial Officer of the Company for a transitional period through June 27, 2025.

Mr. Babcock has more than 17 years of industry experience. He joined Talos in 2014 and has served in his current position since 2019, where he has collaborated closely with Mr. Maiworm. As Interim CFO, Mr. Babcock will report directly to the CEO.

"Sergio has been a valued member of our executive team, and we appreciate his leadership, integrity, and many contributions to Talos over the years. We wish him continued success in this next chapter of his career," said Paul Goodfellow, President and Chief Executive Officer of Talos. "At the same time, I am pleased to continue working closely with Greg. Greg has demonstrated a strong financial acumen during his time at Talos and he is well positioned to step into the Interim CFO position. We look forward to Greg's continued contributions to the Company."

This leadership change is not related to any issues involving the Company's financial reporting or internal controls. Talos reaffirms its production guidance for the second quarter of 2025, as well as its operational and financial guidance for the full year 2025.

The Company has initiated a comprehensive search for a permanent Chief Financial Officer.

Mr. Babcock has been a member of the Talos's finance and accounting department for the past eleven years, serving as Chief Accounting Officer since August 2019 and promoted to Vice President and Chief Accounting Officer in March 2021. Mr. Babcock also served as the Company's Corporate Controller from May 2018 to August 2019, as Assistant Controller from September 2015 to May 2018, and as Financial Reporting Manager from May 2014 to September 2015. Prior to joining Talos, Mr. Babcock worked for Deloitte & Touche, holding positions of increasing responsibility in audit and mergers and acquisitions transaction services. Mr. Babcock is a Certified Public Accountant and holds a M.S. in Finance and B.B.A. in Accounting from Texas A&M University.

ABOUT TALOS ENERGY

Talos Energy (NYSE: TALO) is a technically driven, innovative, independent energy company focused on maximizing long-term value through its Exploration & Production business in the United States Gulf of Mexico and offshore Mexico. We leverage decades of technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while maintaining a focus on safe and efficient operations, environmental responsibility, and community impact. For more information, visit www.talosenergy.com.

INVESTOR RELATIONS CONTACT
Clay Jeansonne
Clay.Jeansonne@talosenergy.com  

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This communication may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, quality of assets, prospects, plans and objectives of the Board and management are forward-looking statements. When used in this communication, the words "will," "could," "believe," "anticipate," "intend," "estimate," "expect," "project," "forecast," "may," "objective," "plan" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.

We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include but are not limited to the timing and success of our business strategy, our expectations regarding financial and operational guidance, expected timing and transition regarding a permanent CFO, and other risks discussed in "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Forms 10-Q filed with the U.S. Securities and Exchange Commission (the "SEC").

Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this communication.

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SOURCE Talos Energy

FAQ

Who is the new interim CFO of Talos Energy (TALO)?

Gregory M. Babcock, previously Vice President and Chief Accounting Officer, has been appointed as Interim CFO of Talos Energy effective June 28, 2025.

Why is Talos Energy (TALO) changing its CFO?

Current CFO Sergio L. Maiworm Jr. has chosen to pursue a new opportunity, leading to his departure from the company after June 27, 2025.

What is Gregory Babcock's experience at Talos Energy (TALO)?

Babcock has been with Talos for 11 years, serving as Chief Accounting Officer since 2019 and Vice President since 2021, with prior roles including Corporate Controller and Financial Reporting Manager.

Will TALO's management change affect its 2025 guidance?

No, Talos Energy has reaffirmed both its Q2 2025 production guidance and full-year 2025 operational and financial guidance.

Is Talos Energy's CFO change related to financial reporting issues?

No, the company explicitly stated that the leadership change is not related to any issues involving financial reporting or internal controls.