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Rhea-AI Summary
CNX (NYSE: CNX) announced a CEO succession: Alan Shepard, currently President and Chief Financial Officer, will become President and Chief Executive Officer effective January 1, 2026. He succeeds Nick Deiuliis, who will retire as CEO at the end of 2025 after 35 years with CNX and will remain on the company's Board of Directors.
Shepard rejoined CNX in 2020, has more than 20 years of energy-sector experience, served as CFO since June 2022 and as President since June 2025. The company expects to name a new Chief Financial Officer by year end.
Positive
- CEO succession effective January 1, 2026
- Alan Shepard has >20 years energy experience
- Outgoing CEO will remain on Board of Directors
Negative
- Company to name new CFO by year end 2025
- End of 35-year CEO tenure may cause leadership transition
News Market Reaction 1 Alert
On the day this news was published, CNX gained 2.85%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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 will be CEO of CNX (NYSE: CNX) after January 1, 2026?
When is Nick Deiuliis retiring as CNX CEO and will he remain with the company?
What roles has Alan Shepard held at CNX before becoming CEO (NYSE: CNX)?
Does CNX (NYSE: CNX) have a permanent CFO after the CEO transition?
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