HOUSTON, July 31, 2022 (WORLD NEWS CABLE) — NCS Multistage Holdings, Inc. NCSM (the “Company”, “NCS”, “we” or “we”) announced today that Mr. Robert Nipper, the Company’s founder, current Chief Executive Officer and member of the Board of Directors (the “Board”) plans to retire , and has tendered his resignation from his position as Executive Director, effective November 1, 2022. Mr. Nipper will remain on the Board following his retirement. The Board of the Company has appointed Mr. Ryan Hummer to succeed Mr. Nipper as chief executive officer, at which time he will also join the Board as a Class II director with a term expiring at the 2025 Annual Meeting of Stockholders. Mr. Hummer currently serves as CFO and Treasurer and his successor will be the subject of a future announcement as the company conducts a search for internal and external candidates.
Michael McShane, Chairman of our Board, said, “Our announcement is the result of a deliberate and thoughtful succession planning process, and Ryan was the clear and unanimous choice of the Board as the next CEO. He is the right leader to succeed Robert and help NCS execute today as well as capture the opportunities that lie ahead. On behalf of the Board, I wanted to thank Robert for his incredible leadership and dedication, and we are confident that his knowledge of the company and the industry will continue to be an asset to our Board.”
Mr. Nipper commented, “It has been an honor to lead NCS since its founding. It has been a pleasure working with Ryan for many years and I am pleased to recommend his appointment as Executive Director of NCS. Mr. Hummer joined the Company in 2014 and has been instrumental in our success and has earned the respect and trust of myself, our Board of Directors and our employees. This transition is a great development, and Ryan’s character, knowledge of NCS, and proven skills as a leader make him an ideal fit to serve as our next CEO. As a shareholder, I believe that our best days are yet to come and I look forward to contributing and supporting the team where it is needed.”
Mr. Hummer, 45, has served as the company’s chief financial officer since November 2016 and also as treasurer since March 2020. Previously, Mr. Hummer served as executive vice president of corporate development since August 2015 and as vice president of corporate development from July 2014 to August 2015. Mr. Hummer has a bachelor’s degree in economics from the Wharton School of the University of Pennsylvania.
“I want to thank Robert for his distinguished leadership over the last 15 years and his mentorship since I joined NCS,” said Mr. Hummer. “Since he co-founded the company in 2006, Robert has assembled and led a tremendous team that has made NCS a highly respected technology innovator with a leading global presence across all of our product lines. As CEO, I am committed to building on Robert’s legacy by continuing to capture the significant opportunities that lie ahead by providing exceptional technology and service to our customers and upholding the values and culture that have made NCS such a successful company and special place. to work. I am honored and excited to have the opportunity to work with our talented leadership team and employees to advance our business strategy.
Mr. Nipper concluded, “It is impossible to adequately express my immense gratitude to all the wonderful people at NCS and for their extraordinary efforts, from an idea, to build our company and create our unique culture together. We are only as good as our people, and I continue to believe we have the best team in the industry.”
About NCS Multistage Holdings, Inc.
NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completion and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in conventional and unconventional oil and natural gas formations. NCS products and services are used in oil and natural gas fields in North America and in select international markets, including Argentina, China, the Middle East and the North Sea. NCS common Values It is listed on the Nasdaq capital market under the symbol “NCSM”. Additional information is available on the website, www.ncsmultistage.com.
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