NOW Inc. Announces Organizational Changes
November 16 2017 - 6:45AM
Business Wire
NOW Inc. (NYSE:DNOW) is pleased to announce today that effective
February 16, 2018, Mr. Daniel Molinaro will serve as Executive Vice
President, assisting with certain treasury, investor relations and
employee benefits matters. Mr. Molinaro will transition from
serving as Senior Vice President and Chief Financial Officer (CFO)
during this period, and David Cherechinsky, currently Vice
President, Corporate Controller and Chief Accounting Officer (CAO),
will succeed Mr. Molinaro as Chief Financial Officer effective
February 16, 2018.
Mr. Molinaro has served as DNOW’s CFO since May 2014, when the
Company was spun off from National Oilwell Varco, Inc. Mr. Molinaro
previously served as Vice President and Treasurer of National
Oilwell Varco (NOV) where his combined years of service with both
DNOW and NOV is almost 50 years.
Mr. Cherechinsky has served as CAO since May 2014, and
previously as Senior Vice President – Finance for the NOV
Distribution business group from 2003, and until the company was
spun off in May 2014 as Senior Vice President – Finance for the NOV
Distribution & Transmission business segment from 2011. He
started with the company January 1989.
Mark Johnson, currently Vice President - Finance and Assistant
Corporate Controller, will succeed Mr. Cherechinsky as Vice
President, Corporate Controller and Chief Accounting Officer, also
effective February 16, 2018. Mr. Johnson has served as Vice
President - Finance and Assistant Corporate Controller since May
2014, and previously as Vice President – Finance for the National
Oilwell Varco Distribution business group. He started with the
company in 2008 and is a CPA.
Robert Workman, President and Chief Executive Officer of NOW
Inc., remarked that “Dan has been an important member of our team
since we spun off from NOV in 2014 and I look forward to his
contributions as he remains an active member of the DNOW executive
team. Dan’s core leadership trait is a profound sense for people
and the community as evidenced by his taking an active personal
interest in our employees, which he often refers to as his family,
and to the many organizations he leads or with which he is
involved, including the United Way, CASA de Esperanza and The
Archdiocese of Galveston-Houston. Dan believes creating sustainable
value involves more than simply maximizing sales and minimizing
costs, it involves caring about and motivating our people.”
Mr. Molinaro commented that “I am excited to remain engaged on
the DNOW executive team and continue contributing to the successes
of our organization. We are all excited to have Dave and Mark in
their new roles as they have been instrumental in leading the DNOW
organization for well more than a decade.”
About NOW Inc.
NOW Inc. is one of the largest distributors to energy and
industrial markets on a worldwide basis, with a legacy of over 150
years. NOW Inc. operates primarily under the DistributionNOW and
Wilson Export brands. Through its network of approximately 300
locations and 4,600 employees worldwide, NOW Inc. offers a
comprehensive line of products and solutions for the upstream,
midstream and downstream energy and industrial sectors. Our
locations provide products and solutions to exploration and
production companies, energy transportation companies, refineries,
chemical companies, utilities, manufacturers and engineering and
construction companies.
Statements made in this press release that are forward-looking
in nature are intended to be "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934
and may involve risks and uncertainties. These statements may
differ materially from actual future events or results. Readers are
referred to documents filed by NOW Inc. with the U.S. Securities
and Exchange Commission, which identify significant risk factors
which could cause actual results to differ from those contained in
the forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171116005232/en/
NOW Inc.Daniel Molinaro, (281) 823-4941Senior Vice President and
Chief Financial Officer
DNOW (NYSE:DNOW)
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