ProPetro Holding Corp. announced the planned transition of Phillip Gobe, the company’s executive chairman on Feb. 17, to non-executive chairman of the board effective March 31, 2022.
“Transitioning to a non-executive chairman role was our goal to continue to enhance our governance at ProPetro,” Chairman Gobe said. “As non-executive chairman, I will continue to be focused on the next phases of success for our company. The company is strong, the executive team is energized to lead the company into the future, and I look forward to continuing to work with the board of directors and executive team led by Sam Sledge, our CEO.”
Gobe has served on the ProPetro board of directors since July of 2019, first as chairman, then in October of 2019 as executive chairman. Gobe was appointed as ProPetro's CEO on March 13, 2020, and served in that role until August 31, 2021, at which point he was re-appointed as executive chairman. He was responsible for leading ProPetro during a challenging period of the company’s history including managing through the COVID-19 pandemic and resulting oil crisis, enhancing ProPetro’s governance, and the transition of a new executive leadership team. He will continue to serve the company as non-executive chairman.
“On behalf of the entire Board, I would like to thank Phillip for his invaluable contributions as CEO and then executive chairman,” ProPetro’s lead independent director, Tony Best, said. “As a result of Phillip’s leadership, ProPetro is well-positioned for success in the future. I look forward to continuing to serve with Phillip in his new role as chairman of the board.”