Tag Archives: CFO

Houston technology company appoints new CFO

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KULR Technology Group has appointed Dr. Mike Kimel as its new CFO. He replaces Shawn Canter, who left the company last month.



KULR is based in Webster, TX and has a market capitalization of $172 million. It designs and builds advanced battery systems for autonomous systems, digital infrastructure, e-mobility and space. For 2025, the company had revenues of $16 million. The company also invests heavily in bitcoin and at the end of March, held 1,083 bitcoins with a market value of $74 million.

In 2025, the company had an operating loss of $43 million. In addition, it took a $14 million write-down on the value of its bitcoin. The company also lost $6.9 million on an investment in a German robotics company that was trying to develop an exoskeleton.

The company was founded in 2013 in San Diego and went public in 2018. It opened a Research & Development facility in Webster, near NASA in March 2023 and moved its corporate headquarters there in August 2024.

Co-founder and CEO Michael Mo owns about 70% of the shares. In April he removed four directors from the Board (one of whom was Mr. Canter) and appointed two new ones. One of the two new directors was Dr. Kimel. With his appointment to the CFO position, Dr. Kimel has now resigned from the Board.

Dr. Kimel has served as the Founder and CEO of a pricing and analytics firm since 2019. Prior to that, he has held various pricing, analytics and strategy roles at companies such as Sears, FirstEnergy Corporation and Toyo Tire Holdings. He will receive a base salary of $350,000.

SEC filing – 8-K KULR CFO appointment

NextDecade appoints new Chief Financial Officer

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NextDecade has appointed John Zuklic as its new CFO, effective July 6, 2026. He replaces Brent Wahl, who resigned in October 2025.



NextDecade is currently in the process of building a Liquified Natural Gas facility near Brownsville, TX. The first LNG production is expected in the first half of 2027. The company has its head office in downtown Houston.

Mr. Zuklic joins from Citgo Petroleum where he has been the CFO since 2020. Citgo is Houston-based, but owned by Venezuela. In 2025, a US court ordered the sale of the parent company of Citgo in order to pay Venezuela- linked creditors. An affiliate of Elliott Investment won the auction with a bid of $5.9 billion, but the sale still requires US regulatory approval.

Prior to joining Citgo, Mr. Zuklic spent nearly 20 years at Phillips 66 and its predecessor, ConocoPhillips, mainly in treasury roles. Before that, he worked at BP. Mr. Zuklic will receive a base salary of $600,000.

Mr. Wahl is now the CFO at Nexus Data Centers. The company is backed by Transition Equity Partners and has its headquarters in The Woodlands. It is developing a 2,000-acre data center campus in Hubbard, TX (which is NE of Waco). According to a report in the Financial Times in March, Google intended to partly finance the data center, which will be leased to Anthropic. The total cost is expected to be around $5 billion. In contrast, the Brownsville LNG facility will cost about $32 billion.

SEC filing – 8-K NextDecade CFO appointment

Nine Energy Service appoints new CFO after recent bankruptcy

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Nine Energy Service has appointed Heather Schmidt as its new CFO. She replaces Guy Sirkes, who resigned, effective May 11, 2026. She was originally appointed as Interim CFO before being confirmed as the permanent CFO on May 26.



Nine Energy is an oilfield services company that has had an eventful 2026 so far. On February 1, it went into Chapter 11 bankruptcy and exited one month later. All the old equity owners were wiped out, and $320 million of senior debt was converted into new common stock, saving $40 million in annual interest expense. With the bankruptcy filing, the stock was delisted from the New York Stock Exchange. However, the new stock began trading on the NYSE at the end of March, same ticker as before (NINE).

With the cancellation of long-term incentive program, there was nothing to keep Mr. Sirkes at the company. He had been at the company since 2019. Mr. Sirkes has since been appointed CFO at Ampirical, a PE-backed engineering company, based in Covington, LA, focused on power infrastructure.

Ms. Schmidt joined the company in 2012. She was previously the Senior VP of Strategic Development and Investor Relations. Before joining the company, she was with SCF Partners, a private equity firm. Ms. Schmidt will receive a base salary of $425,000.

SEC filing 8-K – Nine Energy CFO

 

 

Westlake Corporation appoints new CFO

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Jon Baksht, has been appointed CFO at Westlake Corporation, effective June 15, 2026. He replaces Steve Bender, who announced in February that he would retire by the end of the year. Mr. Bender has been the CFO for over 19 years.

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Westlake produces chemicals such as ethylene and building products such as sidings and PVC pipe. The company was formed in 1986 in Lake Charles by TT Chao. Jean-Marc Gilson was appointed the first non-family CEO in June 2024. The company has a market capitalization of $790 million and has its headquarters in the Galleria area.

Until March 2026, Mr. Baksht was the CFO of Illinois-based Fortune Brands Innovations  (‘FBIN’). He was in that role for less than a year. FBIN owns home and security brands such as Moen and Master Lock padlocks.

$18 million for not becoming the CEO!

FBIN recently went through a bizarre CEO transition. In February, it announced that board member, Amit Banati, would take over as CEO, effective May 2026. However, according to the Financial Times, activist investor, Garden Investments, intervened and, in March, the company rescinded its offer to Mr. Banati and an interim CEO was appointed instead.

On the same day, Mr. Banati resigned from the board, Mr. Baksht stepped down from his position. For his troubles, Mr. Banati received a one-time cash payment of $18.3 million. The company said that Mr. Baksht was also entitled to a severance, though the exact amount was not disclosed. However, the annual proxy disclosed he would have received a payment of $1.9 million for a termination without cause.

Connections to Houston

Previously, Mr. Baksht worked at Valaris, the drilling rig contractor between 2015 and 2021 and was its CFO between June 2019 and August 2021. Valaris, which recently agreed to be acquired by Transocean, exited Chapter 11 bankruptcy in April 2021. Mr. Baksht started his career at Andersen Consulting and spent several years in investment banking with Goldman Sachs in Houston.

Mr. Baksht will receive a base salary of $832,000. He will also receive a cash sign-on bonus of $200,000 and restricted stock units worth $1.8 million that will vest in 2029.

 

SEC filing 8-K – Westlake Corp CFO

 

Expand Energy appoints new CFO after 7 month search

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Expand Energy has appointed Marcel Teunissen as its new CFO, effective immediately. He replaces Mohit Singh, whose employment was terminated in August 2025.

Nick Dell’Osso, the CEO (and former CFO between 2010 and 2021) was ousted in February 2026. Michael Wichterich, the Chairman of the Board, is also the interim CEO currently.



Expand is the new name for the Chesapeake and Southwestern Energy merger that was completed in October 2024. In February, the company announced it would move its headquarters from Oklahoma City to Spring, TX.

Mr. Teunissen was most recently the President of the North American operations of Parkland Corporation, a Canadian fuel distributor. Parkland was publicly-traded until it was acquired by Sunoco in November 2025. Mr. Teunissen has been in the role for about 10 months. Prior to that, he spent four years as CFO of Parkland. Before joining Parkland, Mr. Teunissen had a 23-year career at Shell.

Mr. Teunissen will receive a base salary of $550,000.

Brittany Raiford, who had been serving as interim CFO, will revert back to her former role as Vice President – Treasurer and Investor Relations.

SEC filing – 8-K Expand Energy CFO

 

Camden Property Trust promotes CFO to CEO position

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Camden Property Trust has promoted CFO Alex Jessett to be its next CEO. He replaces Ric Campo, who remains as Executive Chair. In turn, Ben Fraker, currently Senior VP, Finance and Treasury, is appointed CFO.



Camden owns and operates 172 multi-family apartment properties across the US. The company has revenues of $1.6 billion and a market capitalization of $10.3 billion.

Mr. Campo, 71 co-founded Camden’s predecessor companies in 1982 and has been CEO since the company went public in 1993. He steps down as CEO as part of a management succession plan.

Mr. Campo is also the Chair of the Port Commission of the Port of Houston Authority. In addition, he also serves on the Board of Directors of the Greater Houston Partnership and was a past chairman of the Houston Super Bowl Host Committee.

Mr. Jessett has been CFO since 2013 and joined Camden in 1999. Like Mr. Campo, he is also active in Houston-area organizations. Mr. Jessett is on the Executive Committee for Central Houston, Inc, an organization that focuses on the redevelopment and revitalization of downtown Houston.

Mr. Fraker, joined the Camden in 2000 and was appointed VP of Finance in 2013. He added the Treasurer duties in 2020. His new base salary will be $575,000.

SEC filing – 8-K Camden leadership changes

 

 

 

Biopharma company appoints new Chief Financial Officer

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Steve O’Loughlin has been appointed CFO of CNS Pharmaceuticals. He replaces Chris Downs, who is staying with the company as its Senior VP – Finance.



The company is based in The Galleria and is a clinical-stage pharmaceutical company developing drugs for the treatment of cancers of the brain and central nervous system. The company went public in 2019. It currently has a market capitalization of $2m.

In early 2025, trial results showed that Berubicin, the main drug that the company had been developing, was no better than existing treatments in treating Glioblastoma. The company has another drug, TPI 287, that shows potential for treating brain tumors, however, only early-stage trials have taken place so far and more controlled studies are required.

Mr. O’Loughlin joins the company from Actinium Pharmaceuticals, where he had been CFO since August 2020. He joined that company in 2015. According to LinkedIn, Mr O’Loughlin is based in New York. His employment offer letter with CNS is silent on his place of work.

Mr. Downs joined the company as its CFO upon completion of its IPO in 2019. Mr. O’Loughlin will receive a base salary of $450,000. Mr. Downs will receive $350,000.

In December 2025, CNS appointed Rami Levin as its new CEO. He replaced John Climaco, who had been CEO since 2017. Mr Levin, who is based in Boston, has previously been the CEO of two clinical-stage biopharmaceutical companies.

SEC filing – 8-K CNS Pharmaceuticals CFO

 

 

Ring Energy appoints new CFO

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Ring Energy has appointed Sonu Johl as its new CFO and Treasurer, effective February 27, 2026. He replaces Travis Thomas stepped down in September.



Ring Energy is an acquisitive E&P company focused on the Permian Basin. It went public in 2013 and moved its head office from Midlands to The Woodlands in 2020 following the appointment of Paul McKinney as its new CEO. The company has a relatively high debt load  ($428 million at the end of September, though that was down $20 million in the quarter).

Mr. Johl joins from Raymond James & Associates where he spent six years as Managing Director, Co-Head of Energy Investment Banking. He advised public and private E&P companies doing business in the Permian Basin and other US onshore basins.  Prior to that, Mr Johl worked at UBS and Citi investment banks.

Mr. Johl will receive a base salary of $425,000. He will also restricted stock units worth $400,000 that will vest over three years as well as $600,000 of performance stock units that will vest after three years, provided certain performance thresholds are achieved.

SEC filing – 8-K Ring Energy appoints new CFO

Microvast removes interim tag of current CFO

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Rodney Worthen, interim CFO of Microvast since August 2025, has been appointed the permanent CFO. He becomes the 5th CFO at the company since April 2024. His interim spell has lasted longer than some of his permanent predecessors.

Microvast provides battery technologies for electric vehicles and energy storage solutions. It has its corporate offices in Stafford, TX. Its main operation is in Huzhou, China, where it has a 1,400,000 sq.ft. facility. The company also has an operation in Berlin, Germany (185,000 sq.ft.).

Microvast was projecting revenues of between $450 million and $475 million for 2025. The current share price is $3.50, giving the company a market capitalization of $1.1 billion.

New CFO and CAO

Mr. Worthen joined the company in June 2023 and has held various roles such as Head of FP&A and Investor Relations. He was VP of Corporate Strategy, before adding the interim CFO role. He will receive a base salary of $400,000.

The company also appointed Eric Garcia as its Chief Accounting Officer. He was previously the CAO at NextDecade Corporation from 2017 to 2025. Mr. Garcia will receive a base salary of $350,000.

In 2022, the company was awarded a $200 million grant by the Department of Energy to build a US manufacturing plant. The grant was rescinded a few months later after lawmakers questioned the company’s ties to the Chinese government. The lack of funding later caused construction to stall on building a new plant in Tennessee.

Lawsuits galore

Lawsuits have been filed in relation to both events. In the case of the DoE grant, investors are alleging that the company failed to disclose in a timely manner that the grant had been rescinded. With regards to the Tennessee plant, subcontractors are suing for contract damages.

In August, Grizzly Research published research claiming that the company is fabricating a significant part of its business and capabilities.  There have no been no further developments since that research was published.

SEC filing 8-K Microvast appoints Rodney Worthen as CFO

 

 

KLX Energy CFO resigns to take role at EV charging company

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Keefer Lehner, CFO of KLX Energy Services, has resigned his position to become the CFO of EVgo, effective January 12, 2026. Geoffrey Stanford, currently the Chief Accounting Officer, has been appointed the interim CFO.

KLX Energy Services is an oilfield services company with its head office in the Galleria area. It has annualized revenues of $645 million. It only has a market capitalization of $32 million because of a heavy debt burden ($250 million) as a result of acquisitions made in 2018-2019.

Mr. Lehner has been the CFO since July 2020 and joined the company following its all-stock merger with Quintana Energy Services, where he had been CFO since its formation. He began his career in the investment banking division of Simmons & Co.

EVgo is based in Los Angeles and operates a fast charging network for electric vehicles. It has revenues of $350 million and a market capitalization of $1 billion. The company originally started out in 2010 as a subsidiary of Houston-based NRG who sold the business in 2016 to a PE-firm. It was taken public by a SPAC in July 2021. Mr. Lehner replaces Paul Dobson, who lasted just over a year as CFO of EVgo.

Mr. Lehner will receive a base salary of $470,000 (a bump of 8% on his current base ). He will also receive a lump sum cash signing bonus of $400,000, plus time and performance-based restricted stock grants.  He does not have to relocate to Los Angeles.

Mr. Stanford joined Quintana in 2018 as its Chief Accounting Officer and took the same role after the merger with KLX. He was previously the Chief Accounting Officer at Willbros Construction.

SEC filing – 8-K – KLX CFO departure

SEC filing – 8-K EVgo CFO appointment