CNX Resources Corp. Announces Alan Shepard as Next Chief Executive Officer

Rhea-AI Summary

CNX Resources (NYSE:CNX) has announced a significant leadership transition, with current President and CFO Alan Shepard set to become the new President and CEO effective January 1, 2026. Shepard will succeed Nick Deiuliis, who is retiring as CEO after 35 years of service but will remain on the Board of Directors.

Shepard, who rejoined CNX in 2020, has over 20 years of energy sector experience and has been serving as CFO since June 2022 and President since June 2025. The company plans to announce a new CFO by the end of 2025.

Positive

• None.

Negative

• Loss of long-term CEO with 35 years of company experience
• Pending vacancy in CFO position creates temporary uncertainty

Insights

Corporate Governance Analyst

CNX's CEO transition appears orderly with internal promotion of CFO Alan Shepard signaling strategic continuity for the Appalachian energy company.

CNX Resources has announced a well-structured executive transition with Alan Shepard, the current President and CFO, set to become CEO on January 1, 2026. This represents a thoughtful succession plan rather than an abrupt leadership change. Shepard, who rejoined CNX in 2020 and became CFO in 2022, brings over 20 years of energy sector experience and has already been elevated to President in June 2025, creating a gradual leadership handover.

The departing CEO, Nick Deiuliis, will remain on the board after 35 years with the company, providing valuable continuity and institutional knowledge through the transition. This balanced approach helps mitigate disruption risks typically associated with CEO changes. Board Chairman Ian McGuire's endorsement of Shepard specifically highlights his role in developing CNX's "Sustainable Business Model" and commitment to "long-term per-share value creation," suggesting the company intends to maintain its strategic direction.

Notably, Shepard's own comments emphasize continuity with "guiding principles remain unaltered," focusing on per-share value optimization and capital allocation discipline. The announcement that a new CFO will be named by year-end further demonstrates organized succession planning. For an Appalachian energy company, where operational stability and regional relationships are crucial, this methodical leadership transition signals organizational maturity and strategic consistency for stakeholders.

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

FAQ

Who is the new CEO of CNX Resources (NYSE:CNX)?

Alan Shepard, currently serving as President and CFO, will become the new President and CEO of CNX Resources effective January 1, 2026.

Why is Nick Deiuliis stepping down as CEO of CNX?

Nick Deiuliis is retiring as CEO after 35 years of service with CNX, but will continue to serve as a member of the Board of Directors.

What is Alan Shepard's background at CNX Resources?

Alan Shepard rejoined CNX in 2020, has served as CFO since June 2022, and as President since June 2025. He has over 20 years of experience in the energy sector.

When will CNX Resources announce a new CFO?

CNX Resources expects to name a new Chief Financial Officer by the end of 2025.

What are Alan Shepard's priorities as incoming CEO of CNX?

Shepard's priorities include optimizing long-term per-share value, efficient capital allocation, and strengthening CNX's position as the leading Appalachian energy company.