Management ChangeJun 1, 2026, 04:16 PM
ProPetro Director Alex Volkov Resigns; Board Size Reduced
AI Summary
ProPetro Holding Corp. announced the resignation of Alex V. Volkov from its Board of Directors on May 28, 2026. This led to a reduction in the Board's size from eight to seven directors. Mr. Volkov's departure was a direct result of Pioneer Natural Resources Pumping Services LLC, an indirect wholly owned subsidiary of Exxon Mobil Corporation, selling all its remaining shares in ProPetro, thereby losing its right to designate board nominees. The company clarified that the resignation was not due to any disagreement with management or the Board.
Key Highlights
- Alex V. Volkov resigned from ProPetro Holding Corp.'s Board of Directors on May 28, 2026.
- The Company reduced the size of its Board from eight to seven directors.
- Mr. Volkov's resignation followed Pioneer Natural Resources Pumping Services LLC's sale of all its shares.
- Pioneer, an Exxon Mobil subsidiary, no longer has the right to designate board nominees.
- The resignation was not due to any disagreement with management or the Board.
Price Impact
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