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NOW Inc. (NYSE: DNOW), Houston, Texas, has announced that its Board of Directors has appointed Dick Alario as interim CEO, replacing Robert Workman, effective immediately. Workman will no longer serve on the Company’s Board of Directors. The DistributionNOW Board is in the process of engaging a search firm to assist with the recruitment of a full-time CEO. Alario has asked that he not be considered for the full-time CEO position.
“Dick is a strong and capable leader with a wealth of experience in the oilfield services industry, and we are pleased that he will serve as our interim CEO,” said Wayne Richards, Chairman of the Board of DistributionNOW. “Dick has played a key role advising DistributionNOW’s leadership team and is focused on driving strong customer relationships, success in our growth initiatives and enhanced shareholder value. The Board is confident in the Company’s current strategy and that Dick has the right experience and skills to lead its execution and continue the Company’s positive forward momentum.”
Alario has served as a member of DistributionNOW’s Board since the Company’s spinout from National Oilwell Varco in May 2014, and he will remain a Board director while he serves as the Company’s interim CEO. Alario has worked in the oilfield services industry for almost the entirety of his 43-year professional career. Most recently, he served as CEO and a Board Director of Key Energy Services, a leading provider of well intervention services. Prior to that, Alario served in various leadership capacities at companies such as OSCA and BJ Services Company. He also is a Board member of Kirby Corporation, Fluid Delivery Solutions, LLC and American Energy Permian Basin, LLC.