HOUSTON--(BUSINESS WIRE)--Nov. 16, 2017--
NOW Inc. (NYSE:DNOW) is pleased to announce today that effective
February 16, 2018, Mr. Daniel Molinaro will serve as Executive Vice
President, assisting with certain treasury, investor relations and
employee benefits matters. Mr. Molinaro will transition from serving as
Senior Vice President and Chief Financial Officer (CFO) during this
period, and David Cherechinsky, currently Vice President, Corporate
Controller and Chief Accounting Officer (CAO), will succeed Mr. Molinaro
as Chief Financial Officer effective February 16, 2018.
Mr. Molinaro has served as DNOW’s CFO since May 2014, when the Company
was spun off from National Oilwell Varco, Inc. Mr. Molinaro previously
served as Vice President and Treasurer of National Oilwell Varco (NOV)
where his combined years of service with both DNOW and NOV is almost 50
Mr. Cherechinsky has served as CAO since May 2014, and previously as
Senior Vice President – Finance for the NOV Distribution business group
from 2003, and until the company was spun off in May 2014 as Senior Vice
President – Finance for the NOV Distribution & Transmission business
segment from 2011. He started with the company January 1989.
Mark Johnson, currently Vice President - Finance and Assistant Corporate
Controller, will succeed Mr. Cherechinsky as Vice President, Corporate
Controller and Chief Accounting Officer, also effective February 16,
2018. Mr. Johnson has served as Vice President - Finance and Assistant
Corporate Controller since May 2014, and previously as Vice President –
Finance for the National Oilwell Varco Distribution business group. He
started with the company in 2008 and is a CPA.
Robert Workman, President and Chief Executive Officer of NOW Inc.,
remarked that “Dan has been an important member of our team since we
spun off from NOV in 2014 and I look forward to his contributions as he
remains an active member of the DNOW executive team. Dan’s core
leadership trait is a profound sense for people and the community as
evidenced by his taking an active personal interest in our employees,
which he often refers to as his family, and to the many organizations he
leads or with which he is involved, including the United Way, CASA de
Esperanza and The Archdiocese of Galveston-Houston. Dan believes
creating sustainable value involves more than simply maximizing sales
and minimizing costs, it involves caring about and motivating our
Mr. Molinaro commented that “I am excited to remain engaged on the DNOW
executive team and continue contributing to the successes of our
organization. We are all excited to have Dave and Mark in their new
roles as they have been instrumental in leading the DNOW organization
for well more than a decade.”
About NOW Inc.
NOW Inc. is one of the largest distributors to energy and industrial
markets on a worldwide basis, with a legacy of over 150 years. NOW Inc.
operates primarily under the DistributionNOW and Wilson Export brands.
Through its network of approximately 300 locations and 4,600 employees
worldwide, NOW Inc. offers a comprehensive line of products and
solutions for the upstream, midstream and downstream energy and
industrial sectors. Our locations provide products and solutions to
exploration and production companies, energy transportation companies,
refineries, chemical companies, utilities, manufacturers and engineering
and construction companies.
Statements made in this press release that are forward-looking in
nature are intended to be "forward-looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934 and may
involve risks and uncertainties. These statements may differ
materially from actual future events or results. Readers are
referred to documents filed by NOW Inc. with the U.S. Securities and
Exchange Commission, which identify significant risk factors which could
cause actual results to differ from those contained in the
View source version on businesswire.com: http://www.businesswire.com/news/home/20171116005232/en/
Source: NOW Inc.
Daniel Molinaro, (281) 823-4941
Senior Vice President
and Chief Financial Officer