Natural Gas Services Group, Inc. Announces Management Transition

Midland, TX, May 17, 2022 (GLOBE NEWSWIRE) --

• Stephen C. Taylor, after over 17 years of service to the Company, announces his retirement as President and Chief Executive Officer. He will remain Chairman as well as an advisor to the Company with a focus on long-term customer relationships.  
• John W. Chisholm, currently lead independent director, will serve as interim President and Chief Executive Officer, ensuring strong leadership continuity.

Midland, TX, May 17, 2022 (GLOBE NEWSWIRE) -- Natural Gas Services Group, Inc. (NYSE:NGS) (the "Company" or "NGS"), a leading provider of gas compression equipment and services to the natural gas and oil industry, announced today that Stephen C. Taylor, Chairman, President and Chief Executive Officer, will retire as President and Chief Executive Officer. He will remain Chairman of the Board of Directors through his term which expires at the annual meeting in June, 2023. The Board of Directors has appointed John W. Chisholm, currently the lead independent director of the Company’s Board, as the interim President and Chief Executive Officer.

“On behalf of the Board of Directors, the Natural Gas Services Group leadership team, and NGS’s employees, we want to thank Steve for his leadership and impact over his more than 17 years at the helm of NGS,” said John Chisholm, the Company’s lead independent director. “He completes his tenure as President and CEO with NGS in an enviable position with a pristine balance sheet and numerous opportunities for internal and strategic growth ahead. He transformed the Company from a relatively obscure compression company to a leader in natural gas compression with a reputation for unparalleled financial strength and an operational acumen that leads the industry in efficiency and productivity for its clients. In short, Steve is leaving the Company in far better shape than he found it, the hallmark for success in a corporate leader.”

The leadership transition will begin with today’s earnings call as Mr. Chisholm begins his interim role. As noted, Mr. Taylor will continue as Chairman of the Board, and will remain active in the transition process throughout his term as Chairman. David L. Bradshaw, current independent director and Chair of the Board of Directors Audit Committee, has been appointed lead independent director.