TXO Partners’ Bob R. Simpson will retire from his position as CEO, effective April 1, but will remain with the company as chairman of the board of directors, the company said March 19.

Gary D. Simpson and Brent W. Clum will be promoted to co-CEOs, also effective April 1.

G. Simpson currently serves as TXO’s president of production and development and Clum serves as president of business operations, CFO and director of the general partner.

Both Simpson, who will join TXO’s board, and Clum will maintain their current positions, the company said.