CALGARY, Alberta—Steve Glanville, president and COO of STEP Energy Services Ltd., will take over as CEO, replacing Regan Davis, the company announced. The transition takes effect upon Davis’s retirement on Sept. 30.
The company, which provides coiled tubing and fracturing services in multiple basins, also said that Rory Thompson, president of Canadian operations, will become the new COO.
Davis, co-founder and CEO since STEP’s formation in 2011, will remain in an advisory capacity through the rest of the year to assist in the transition.
“I am immensely proud of what our team of professionals has accomplished together in the last 11 years,” Davis said. “I believe it is the right time for me to step down, which will open the door to new possibilities for both myself and the company. As one of the original founders of STEP, Steve’s leadership and deep operational acumen, along with the support of our very talented senior leadership team, will allow STEP to continue to execute its vision, which instills a great sense of confidence about the company’s future success.”
Douglas Freel, managing director at ARC Financial and chair of the board of directors of STEP, said the board established a succession plan when the company went public and this move concluded the process.
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