- Push-out Score determined
- After less than three years in the position
- Praise, thanks and good wishes for Herz
- Bryan Gunderson taking over
- Herz said 67 words
(exechange) — New York, June 28, 2021 — Daniel Herz, chief executive of Falcon, leaves. As announced by Falcon Minerals Corp. in a news release and in a regulatory filing published on Monday, June 28, 2021, Daniel C. Herz leaves his post as chief executive officer at the oil and gas minerals company after less than three years in the role, effective immediately.
The announcement of Daniel Herz’s move comes 14 months after Claire R. Harvey took over as Chairman of Falcon Minerals Corp.
Daniel Herz’s duties as CEO will be taken over by Bryan C. Gunderson, most recently Chief Financial Officer at Falcon Minerals Corp.
“Now is the right time for me to move on to pursue a new chapter”
Daniel Herz’s departure from the CEO post is explained as follows. Herz said: “Having successfully navigated through the last year and a half, and with Falcon positioned for continued growth and success, now is the right time for me to move on to pursue a new chapter.”
Precise information regarding Daniel Herz’s future plans was not immediately available.
Falcon said: “Falcon Minerals Corporation (“Falcon,” or the “Company,” “we,” “our,”) (NASDAQ: FLMN, FLMNW), a leading oil and gas minerals company, announces the appointment of Bryan C. Gunderson as President and Chief Executive Officer and the departure of Daniel C. Herz, former President and Chief Executive Officer. Mr. Gunderson’s appointment and Mr. Herz’s departure are both effective immediately. Mr. Gunderson has also been appointed to the board of directors to fill the vacancy created by Mr. Herz’s resignation.”
Falcon further said: “On June 28, 2021, Falcon Minerals Corporation (the “Company”) announced the departure of Daniel C. Herz, the Company’s Chief Executive Officer (“CEO”) and President of the Company, effective as of June 28, 2021 (the “Effective Date”), at which time the Company also accepted Mr. Herz’s resignation as the CEO and President and as a member of the Board of Directors of the Company (the “Board”).”
Share price decline since August 2018
The announcement follows a decline in Falcon Minerals Corp.’s share price of 51% since August 2018. August 2018 is the month in which Herz’s tenure as CEO began.
Chaired by Claire R. Harvey
Claire R. Harvey serves as Falcon Minerals Corp.’s Chairman.
Claire R. Harvey has been a director and Chairman of the Board of Directors since May 2020. Harvey is the President of ARM Resources, the upstream oil and gas division of ARM Energy, a premier producer services firm providing innovative solutions across the energy value chain.
In the position of CEO since 2018
Daniel Herz became CEO of the Company in 2018.
Daniel C. Herz has been the Company’s Chief Executive Officer since August 2018, the Company’s President since April 2017 and a director since May 2020.
He previously served as a member of the Company’s Board from April 2017 until July 2018.
Herz served as President of Atlas Energy Group, LLC from April 2015 until October 2018.
Herz also served as President of the general partner of Atlas Growth Partners, L.P. from its inception in 2013 until August 2018, and served as a director from the company’s inception in 2013 until October 2018.
Herz served as Senior Vice President of Corporate Development and Strategy of the general partner of Atlas Energy, L.P. from February 2011 until its sale to Targa Resources, Inc. in February 2015.
Herz was also Senior Vice President of Corporate Development of Atlas Pipeline Partners GP, LLC from August 2007 until its sale to Targa Resources, Inc. in February 2015.
He was also Senior Vice President of Corporate Development of Atlas Energy, Inc. and Atlas Energy Resources, LLC from August 2007 until its sale to Chevron Corporation in February 2011.
Before that, Herz was Vice President of Corporate Development of Atlas Energy, Inc. and Atlas Pipeline Partners GP, LLC from December 2004 until August 2007.
Also, from September 2016 until October 2018, Herz served as Titan Energy, LLC’s Chief Executive Officer, where he continued to serve as a Class A Director through April 2021.
Herz was Chief Executive Officer of Titan’s predecessor, Atlas Resource Partners, L.P., from August 2015 until August 2018.
Before that, he had served as Senior Vice President of Corporate Development and Strategy of the general partner of Atlas Resource Partners, L.P. from March 2012 to April 2015.
Atlas Resource Partners and subsidiaries filed a voluntary pre-packaged plan under Chapter 11 in July 2016, which was confirmed and the companies emerged from Chapter 11 in September 2016.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Daniel Herz’s move on a scale of 0 to 10.
exechange reached out to Falcon and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 27.2021 ($).