CNX Resources Corporation announced that Alan Shepard will become President and Chief Executive Officer effective January 1, 2026, while Everett Good will assume the role of Chief Financial Officer on the same date. The transition follows a planned succession strategy that keeps leadership within the company’s existing executive team.
Shepard, who has served as Vice President of Finance and Treasury, brings 13 years of experience at CNX and a deep understanding of the company’s financial and operational model. Good, also a longtime executive, has been Vice President of Finance and Treasury since 2021 and has overseen the firm’s capital allocation and treasury functions. The move is designed to preserve continuity and leverage the leaders’ shared focus on disciplined capital deployment and operational efficiency.
CNX’s strategic narrative centers on generating free‑cash‑flow to fund share buybacks and debt reduction while pursuing high‑return development in the Utica play and expanding its new‑technology portfolio. The company recently completed the acquisition of Apex Energy II’s natural‑gas assets for roughly $505 million, adding acreage in the Marcellus and Utica basins and reinforcing its position in the Appalachian region. The leadership change signals that the company will continue to prioritize cost control, drilling‑cost reductions, and technology investments that lower operating expenses per foot of drilling.
Financially, CNX has delivered 23 consecutive quarters of positive free‑cash‑flow as of Q3 2025, but its net‑profit margin fell to 8.6 % in the twelve months through September 2025 from 39.2 % the prior year, largely due to a one‑off gain that inflated the previous year’s margin. The company’s operating margin has also slipped, reflecting higher commodity‑price volatility and increased capital expenditures in the Utica play. Management attributes the margin compression to a mix shift toward lower‑margin segments and the need to invest in infrastructure to sustain long‑term growth.
In a statement, Shepard noted that the appointment of Good “reflects the depth of talent and continuity within our organization” and highlighted Good’s financial acumen and understanding of CNX’s business model. CEO Nick Deiuliis emphasized the company’s “sustainable business model and consistent execution” as the foundation for long‑term per‑share value, while outlining a maintenance‑mode strategy for 2026 that focuses on generating significant free‑cash‑flow and reducing operating costs.
The leadership transition underscores CNX’s commitment to a disciplined, cash‑centric strategy while maintaining momentum in its core shale operations. With Shepard’s experience in finance and Good’s expertise in capital management, the company is positioned to continue executing on its free‑cash‑flow generation plan, support share buybacks, and fund future development in the Utica play and other high‑return opportunities.
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