NOW Inc. said that its board of directors, on June 1, has appointed David (Dave) Cherechinsky to lead the company as full-time CEO, effective immediately.

Cherechinsky, who has served as CFO of the company since 2018, will take over the CEO role from Dick Alario. In his new role, Alario will continue advising the company as executive vice chairman and will work alongside Cherechinsky for a brief transition period as Cherechinsky assumes his role as the new CEO.

Prior to becoming CFO of DNOW, Cherechinsky served as the company’s chief accounting officer, and prior to that, as vice president of finance for the NOV distribution and transmission business segment. He began his career at NOV in 1989.

“Dave is a well-established leader with a strong track record of driving innovation across the business, and the board is confident that he’s the best candidate to continue the transformation that is underway, especially during these unprecedented global economic challenges,” Wayne Richards, chairman of the board of DistributionNOW, said.

The board selected Mark Johnson to succeed Cherechinsky as CFO. Johnson has served as DNOW’s chief accounting officer and vice president, corporate controller since 2018. Prior to that, he served as the company’s vice president of finance and assistant corporate controller after the 2014 spin off. He joined NOV in 2008 after working in public accounting and served as vice president of finance for the NOV Distribution business group from 2012 until it was spun off in 2014.