1. Alan Shepard becomes CEO of CNX effective January 2026. 2. Nick Deiuliis will retire after 35 years, remains on Board. 3. Shepard aims to innovate and deliver long-term value. 4. New CFO will be appointed by year-end 2025. 5. CNX emphasizes sustainable business practices under new leadership.
Leadership transition often brings new strategies that can enhance company performance. Historical examples show successful CEO transitions can lead to stock price increases.
New leadership often reshapes company strategy, making the transition highly relevant.
Shepard's long-term vision for value creation may take time to manifest. Previous leadership changes in energy sectors have shown delayed positive impacts.
PITTSBURGH, Sept. 22, 2025 /PRNewswire/ -- CNX Resources Corporation (NYSE:CNX) today announced that Alan Shepard, currently serving as President and Chief Financial Officer, will assume the role of President and Chief Executive Officer (CEO) effective January 1, 2026. Mr. Shepard will succeed Nick Deiuliis, who will retire from his role as CEO at the end of 2025 after 35 years of service to CNX. Mr. Deiuliis will continue to remain actively engaged with CNX as a member of its Board of Directors.
Mr. Deiuliis said, "It has been an honor to work alongside such a talented team here at CNX. Alan has earned the trust and confidence of our Board, employees, and shareholders. I am excited to watch him lead CNX to great things in the years ahead, and I am grateful to have the opportunity to continue to contribute to the team as a director."
"Since rejoining CNX in 2020, Alan has been instrumental in the development and execution of the company's unique Sustainable Business Model," added Ian McGuire, Chairman of the CNX Board of Directors. "His deep understanding of our business, commitment to long-term per-share value creation, and passion for positively impacting Appalachian communities make him the ideal leader to guide CNX into the future."
Mr. Shepard has more than 20 years of experience in the energy sector. He re-joined the company in 2020 and has served as the company's Chief Financial Officer since June 2022 and President since June 2025.
Mr. Shepard commented, "I am humbled and excited by the opportunity to lead this storied regional institution as we continue to innovate, responsibly execute, and ultimately deliver value for all our stakeholders." Mr. Shepard continued, "Our guiding principles remain unaltered: optimizing long-term per-share value, efficiently and prudently allocating capital, and seizing opportunities to further our legacy as the leading Appalachian energy company."
As part of the transition, CNX expects to name a new Chief Financial Officer by year end.
About CNX Resources Corporation
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.
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SOURCE CNX Resources Corporation