NOW Inc. Announces New Chief Executive Officer
Board of Directors appoints
“At the end of 2019,
“Dave understands DNOW’s business from multiple vantage points, having taken on a variety of strategic responsibilities for the Company and its predecessor, National Oilwell Varco (NOV), from which it spun out. He is widely respected by our customers, suppliers, investors and employees, which is something we value in a leader as the Company evolves in this rapidly changing world,” Richards added. “After a thorough and productive external and internal search process, the Board determined that Dave brings significant value and stability to the CEO position and a deep knowledge of DNOW’s business. The Board thanks the members of the search committee for its work to provide the Board with excellent candidates from which to choose.”
Prior to becoming CFO of
“I am honored to be taking on these new responsibilities as we transform
“We thank Dick for leading the Company as interim CEO during a pivotal time in our history, and the other directors and I take comfort knowing that he will continue advising the Company alongside us in his Board seat and as a member of the executive management of DNOW,” Richards added. “DNOW’s current strategy and trajectory was solidified through a remarkable partnership between Dick and Dave, and we look forward to continuing to work closely with both of them to attain DNOW’s objectives.”
Alario added, “Working with Dave during the last seven months, it became clear to me that he had earned the respect of our organization, and that he could uniquely provide internal stability moving from his CFO role to chief executive, while at the same time leading the changes needed to improve DNOW’s market position. I look forward to continuing to work with Dave to drive value for all of our stakeholders.”
The Board selected
“The Board feels very fortunate to have such a well-qualified leader with a breadth of finance experience in Mark,” added Richards. “We have no doubt Mark will seamlessly step into the critical CFO role.”
About
DistributionNOW is a worldwide supplier of energy and industrial products and engineered equipment solutions. Our 3,075 employees from a network of 210 physical locations in more than 20 countries offer a suite of digital solutions branded as DigitalNOW® that provide customers world-class technology for digital commerce and data and information management. Our locations provide products and solutions to exploration and production companies, energy transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers and engineering and construction companies. DistributionNOW has a legacy of over 150 years and is headquartered in
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Media Contact
(713) 343-0427
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IR Contact
DistributionNOW
Vice President, Marketing and Investor Relations
(281) 823-4006
ir@dnow.com
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