Propetro Holding (PUMP) just unveiled an announcement.
ProPetro Holding Corp. expanded its board to ten directors by appointing Alex V. Volkov, a vice president of ExxonMobil, to serve as a director representing Pioneer, a subsidiary of ExxonMobil. Volkov, who declined director compensation, will sit on the board until the 2025 annual stockholders’ meeting. His appointment strengthens ties with ExxonMobil, as ProPetro received significant revenue from ExxonMobil subsidiaries in the prior fiscal year. Additionally, ProPetro has committed to indemnify Volkov against potential liabilities during his tenure. The company publicly announced Volkov’s board appointment in a recent press release.
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