CNX Resources Corp. strengthened its management team and board of directors with several recent appointments including the promotion of Ravi Srivastava to president of new technologies.
“CNX’s investment thesis rests on long-term per-share value creation, creating resilient competitive advantage through innovation and risk management, and clinical capital allocation methodology,” CNX Chairman Will Thorndike commented in a company release on Jan. 26. “The evolution of our board and executive management team through these personnel and organizational moves brings a step-change improvement in our ability to execute across all these fronts.”
In addition to Srivastava’s promotion, CNX Resources also announced the appointment of Hayley F. Scott as chief risk officer and the joining of Robert O. Agbede, chairman and CEO of Chester Group Inc., a holding company for technology, engineering, and energy related investments, to the CNX board. Agbede currently serves as a member of the compensation, nominating and corporate governance, and environmental, safety and corporate responsibility committees.
“A fundamental belief in meritocracy drives personnel decisions at CNX,” CNX President and CEO Nick DeIuliis added in the release. “Bob, Ravi and Hayley bring talent, experience, and sound judgement in areas that drive long-term per-share value creation.”
The recent appointments bring extensive experience and will provide leadership on key areas of focus for CNX Resources, according to its release, including emerging environmental and emissions reduction technology development and commercialization and enterprise risk mitigation and management. The company expects those attributes will further solidify its long-term strategy, execution and per-share value creation.
“We’re extremely proud of the homegrown team we have built from the ground up within our organization and our region,” DeIuliis continued. “We are excited to watch these individuals and the wider team drive our differentiated strategy and business model forward.”
Previously, Srivastava served as the vice president of data operations overseeing CNX’s data and digital transformation journey. He has an extensive tenure with CNX having served in a broad range of leadership roles including engineering, research and development, drilling and production operations, production engineering, information technology and data science and analytics.
In his new role as president of new technologies, Srivastava will be responsible for developing and commercializing emerging technology opportunities for CNX Resources.
In Scott’s new role, she is responsible for the management and governance necessary to identify, evaluate, mitigate and manage CNX’s strategic, operational, compliance and reputational risks. Before being appointed to her current position, Scott served as vice president of internal audit and advisory services. She also previously served as vice president of financial planning and analysis, and held the same position at CONSOL Energy Inc. prior to its separation into two separate companies.
Based in Pittsburgh, CNX Resources is an independent natural gas development, production and midstream company, with operations centered in the major shale formations of the Appalachian Basin. As of year-end 2020, CNX had 9.55 Tcfe of proved natural gas reserves, according to the company release.
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