- Push-out Score determined
- After about three years in the position
- Thanks and good wishes for Ladhani
- John Schmitz taking over
- Ladhani kept it short and said 32 words
(exechange) — Houston, Texas, January 4, 2021 — Holli Ladhani, chief executive of Select Energy, leaves. As announced by Select Energy Services Inc. in a news release and in a regulatory filing published on Monday, January 4, 2021, Holli C. Ladhani, chief executive officer, has left the provider of water management and chemical products to the oil and gas industry after about three years in the role, effective January 3, 2021.
Holli Ladhani’s duties as CEO will be taken over by John D. Schmitz, most recently Chairman of Select Energy Services Inc.
“To pursue other opportunities”
Holli Ladhani’s departure from the CEO post is explained as follows. Select Energy said: “Holli C. Ladhani, the former Chief Executive Officer and President of the Company, has departed the Company effective January 3, 2021 to pursue other opportunities.”
Precise information regarding Holli Ladhani’s future plans was not immediately available.
Select Energy said: “Holli C. Ladhani has departed the Company and will no longer serve as the Chief Executive Officer and President of the Company, or a member of the Board, effective January 3, 2021.”
“Not the result of any disagreement”
“Ms. Ladhani’s departure from the Company was not the result of any disagreement with the Company on any matter related to the Company’s operations, policies or practices,” Select Energy said.
Share price decline since January 2018
The announcement follows a decline in Select Energy Services Inc.’s share price of 78% since January 2018.
In the position of CEO since 2017
Holli Ladhani became CEO of the Company in 2017.
As a result of her departure from the Company, Ladhani will no longer serve as a director on the Board of Directors or in any other capacity with Select Energy Services or any of its affiliated entities.
Ladhani has served as the Company’s President, Chief Executive Officer and as a member of the Company’s Board since the Rockwater Merger closed in November 2017.
Prior to the Rockwater Merger, Ladhani served as the President and Chief Executive Officer of Rockwater and as a member of the Rockwater board of directors since May 6, 2015.
She was appointed Chairman of the Rockwater board of directors in January 2017.
Ladhani held various positions at Rockwater since its formation in 2011 including Executive Vice President—Chemical Technologies and Chief Financial Officer.
Prior to joining Rockwater, Ladhani served as Executive Vice President and Chief Financial Officer of Dynegy Inc., a position she held since November 2005.
She previously held various finance positions with Dynegy, including Senior Vice President, Treasurer and Controller from 2000 to 2005.
Prior thereto, Ladhani was employed by PricewaterhouseCoopers, LLP from 1992 to 2000 and held positions with varied levels of responsibility up to Senior Manager in the audit practice, where she focused on the energy sector, including exploration and production, chemicals and refining.
She received her B.B.A. in Accounting from Baylor University and her M.B.A. (Jones Scholar) from Rice University. Ladhani serves on the board of Noble Energy Inc., an independent oil and natural gas exploration and production company, and previously served on the board of Rosetta Resources Inc.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Holli Ladhani’s move on a scale of 0 to 10.
exechange reached out to Select Energy and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 2.2021 ($).