Item 5.02  Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 23, 2020, Mark G. Papa informed the Board of Directors (the "Board") of
Centennial Resource Development, Inc. (the "Company") of his decision to
accelerate to March 31, 2020 his previously announced retirement from his
positions as the Company's Chief Executive Officer and the Chairman of the
Board, which he confirmed in a letter delivered to the Board on March 25, 2020.
Mr. Papa stated that his views on how the Company should respond to the recent
weakness in the oil markets and changing macro conditions have differed from
other members of the Board and that he believed accelerating the effective date
of his retirement may better position the Board to reach a consensus on the
appropriate direction of the Company. The Board has accepted Mr. Papa's
accelerated retirement and thanks Mr. Papa for his leadership and contributions
to the Company during his tenure. A copy of the letter Mr. Papa sent to the
Board is filed as Exhibit 17 to this Current Report on Form 8-K.
The Board has accelerated the previously announced leadership transition to be
effective April 1, 2020, at which time Steven J. Shapiro (a current member of
the Board) will become non-executive Chairman of the Board, Sean R. Smith
(currently serving as Vice President and Chief Operating Officer) will become
the Chief Executive Officer and a member of the Board and Matthew R. Garrison
(currently serving as Vice President of Geosciences) will become Vice President
and Chief Operating Officer.
Additional information relating to these leadership transitions, including
certain biographical information, is set forth in the Current Report on Form 8-K
filed by the Company on February 24, 2020, and such information is incorporated
herein by reference.
Item 7.01. Regulation FD Disclosure.
On March 27, 2020, the Company issued a press release announcing the accelerated
leadership transitions described above. A copy of the press release is included
as Exhibit 99.1 hereto and incorporated herein by reference.
The information furnished pursuant to this Item 7.01 shall not be deemed to be
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, and will not be incorporated by reference into any filing under the
Securities Act, unless specifically identified therein as being incorporated
therein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)  Exhibits
Exhibit No. Description
              Letter from Mr. Papa to the Board of Directors, dated March 25,
  17        2020
              Press release dated March 27, 2020 of Centennial Resource
  99.1      Development, Inc.
104         Cover Page Interactive Data File - the cover page XBRL tags are
            embedded within the Inline XBRL document.

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