Select Energy Services (market cap $1.8 billion) announced that CFO, Gary Gillette, will transition to Chief Administrative Officer, effectively immediately. The new CFO is Nick Swyka who joins from Nabors Industries, where he had been Director of Investor Relations since October 2015. Before that he spent four years as Director of Corporate Planning at Pacific Drilling. No compensation for Mr Swyka was disclosed.
Select provides water and chemical solutions for the oilfield sector. It used to have its head office in Dallas, where Mr Gillette is based but moved to the Galleria area of Houston after its takeover of Rockwater.
Waste Connections (market cap $19.8 billion), a waste management company that has its operational headquarters in The Woodlands though it officially has its head office in Toronto, announced an executive change. CFO Worthing Jackman will succeed Steve Bouck as President and Mary Anne Whitney has been promoted from Senior VP of Finance to CFO.
Mr Bouck is retiring effective July 1 and was previously CFO at the company. Mr Jackman joined the company in 2003 and has been CFO since September 2004. Ms Whitney has been with the company since 2006 and has been in her current role since March 2012. Interesting the 8-K filed by the company states that compensation arrangements have not yet been finalized for either Mr Jackman or Ms Whitney.
Powell Industries (market cap $410 million), a supplier of custom engineered control solutions for electrical energy based in SE Houston, announced that CFO, Don Madison, will retire on October 1. He joined the company as CFO in 2001. A formal search is now underway for his successor.
Cardtronics plc (market cap $1.3 billion), a provider of ATM services based in West Houston, has appointed Paul Gullo as its Chief Accounting Officer. He was previously at TechnipFMC plc for 9 years in various roles. Mr Gullo will receive a base salary of $310,000 and replaces Brad Conrad who becomes Treasurer.
DXP Enterprises (market cap $653 million), an industrial wholesaler based in NW Houston, has appointed Gene Padgett as its new Chief Accounting Officer. Mr Padgett previously spent 10 years at Spectra Energy and replaces Mac McConnell who retired in March.
EP Energy (market cap $754 million), an indebted E&P company with its head office in downtown Houston announced that they let go Francis Olmsted, its Chief Accounting Officer, as part of a 10% reduction in force. He joined the company in May 2012. Jeff Stanberrry, the Director of General Accounting and Financial Reporting will assume the role of Financial Controller.
Key Energy Services (market cap $339 million) announced that CEO Robert Drummond resigned to pursue another opportunity (which later turned out to be the CEO at Keane Group, another Houston oilfield services company) and named current CFO, Marshall Dodson, as the interim CEO. Key is a well servicing contractor that came out of bankruptcy in late 2016 with a new controlling shareholder, Platinum Equity. Mr Dodson joined Key in 2005 and became CFO in 2013.