1. Alan Shepard promoted to President, retaining CFO role. 2. CEO touts potential for per-share value creation. 3. Board supports Shepard's leadership as CNX focuses on growth. 4. CNX emphasizes its low-carbon natural gas operations in Appalachia. 5. Company holds 8.54 trillion cubic feet of proved gas reserves.
Alan Shepard's promotion indicates strong leadership continuity, aiding investor confidence and potential stock appreciation. Historically, leadership changes in firms often impact stock prices positively when seen as favorable by the market.
Leadership transitions at CNX signal strategic focus on per-share value, likely affecting market perceptions positively. The emphasis on sustainable practices adds to its long-term growth narrative.
Shepard's long-term contributions will likely play a decisive role in CNX's strategic positioning and shareholder value. Companies that invest in leadership often enjoy better growth trajectories over time.
CNX Resources Corporation (NYSE: CNX) announces the promotion of Alan Shepard to the position of President in addition to his current role as Chief Financial Officer.
"The opportunity set for the CNX team to continue to create per-share value for our owners and to positively transform our Appalachian communities has never been greater," said Nick Deiuliis, CNX CEO. "Since rejoining CNX in 2020, Alan has been integral to the development, communication, and execution of CNX's sustainable business model and the implementation of our capital allocation approach. Today's announcement recognizes both past achievements and our future expectations of his contributions to our continued success."
Ian McGuire, Chairman of the Board of Directors of CNX added further: "This promotion reflects the collective confidence that the Board has in Alan's leadership as CNX moves forward. We look forward to continuing to work closely with him on long-term per-share value creation."
The Board of Directors of CNX unanimously approved the promotion of Mr. Shepard to the position of President in addition to his current role as Chief Financial Officer. Mr. Shepard will continue to report to Mr. Deiuliis.
CNX Resources Corporation (NYSE: CNX) is unique. We are a premier, ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 161-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2024, CNX had 8.54 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.
SOURCE CNX Resources Corporation