People | Service & Supply | General News | New Company / Start-Ups | Oilfield Services | Capital Markets
NOV Forms New Spin-Off Company; Outlines Management Team
Print
|
National Oilwell Varco Inc. has formed a new Delaware corporation, NOW Inc., to eventually serve as the independent, publicly traded company for its previously announced proposed plan to spin off to its shareholders its Distribution Business.
The proposed publicly traded distribution business intends to operate under the name DistributionNOW.
The Company also announced the names of certain members of the Executive Management team for this company. On the effective date of the spinoff, Mr. Robert Workman will become the Chief Executive Officer of the publicly traded distribution company, Mr. Daniel Molinaro will become its Chief Financial Officer and Mr. David Cherechinsky will become its Chief Accounting Officer.
Mr. Workman started with National Oilwell Varco in 1991, and has held…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations