NOW Inc. said Nov. 1 that its board of directors has appointed Dick Alario as interim CEO, replacing Robert Workman, effective immediately.
Workman will no longer serve on the company’s board of directors. The DistributionNOW board is in the process of engaging a search firm to assist with the recruitment of a full-time CEO. Alario has asked that he not be considered for the full-time CEO position.
“Dick is a strong and capable leader with a wealth of experience in the oilfield services industry, and we are pleased that he will serve as our interim CEO,” Wayne Richards, chairman of the board of DistributionNOW, said.
Alario has served as a member of DistributionNOW’s board since the company’s spinout from National Oilwell Varco in May 2014, and he will remain a board director while he serves as the company’s interim CEO. Alario has worked in the oilfield services industry for almost the entirety of his 43-year professional career. Most recently, he served as CEO and a board director of Key Energy Services, a leading provider of well intervention services. Prior to that, Alario served in various leadership capacities at companies such as OSCA and BJ Services company. He also is a board member of Kirby Corp., Fluid Delivery Solutions LLC, and American Energy Permian Basin LLC.
Recommended Reading
‘Knife Fight’ for NGLs Driving Midstream Mergers in 2024
2024-09-05 - The latest acquisitions in the midstream sector are focusing on natural gas gathering and processing to secure a spot in the lucrative NGL market.
One Equity Partners to Acquire Gas Turbine Services Company EthosEnergy
2024-08-28 - One Equity Partners will buy EthosEnergy, which provides services to power generation and industrial customers operating industrial gas turbines.
TGS, ComboCurve Partner on Asset Evaluation Tech for Dealmakers
2024-08-28 - TGS and ComboCurve said the combination of their technology platforms will cut asset evaluation times from months to days.
Diversified Energy Closes on 170,000-acre Deal in East Texas
2024-08-16 - Diversified will pay $106 million for the natural gas assets through the issuance of 2.24 million new shares and $71 million cash.
Oxy Nears $4.5B Debt Reduction Target Post Barilla Draw Sale
2024-08-19 - Occidental Petroleum, which paid $12 billion to acquire CrownRock LP, looks to achieve 85% of its near-term debt reduction target of $4.5 billion by the end of the third quarter 2024, says Oxy CEO Vicki Hollub.