NCS Multistage Holdings, Inc. Announces CEO Retirement and Succession

HOUSTON, July 31, 2022 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (Nasdaq: NCSM) (the “Company,” “NCS,” “we” or “us”) today announced that Mr. Robert Nipper, the Company’s founder, current Chief Executive Officer and member of the Board of Directors (the “Board”) plans to retire, and has tendered his resignation from his position as Chief Executive Officer, effective November 1, 2022. Mr. Nipper will remain on the Board following his retirement. The Company’s Board has appointed Mr. Ryan Hummer to succeed Mr. Nipper as Chief Executive Officer, at which time he will also join the Board as a Class II director with a term to expire at the 2025 Annual Meeting of Stockholders. Mr. Hummer currently serves as Chief Financial Officer and Treasurer and his successor will be the subject of a future announcement as the Company is undergoing a search of internal and external candidates.

Michael McShane, the Chairman of our Board, said, “Our announcement is the result of a deliberate and thoughtful succession planning process, and Ryan was the clear and unanimous choice of the Board as the next CEO. He is the right leader to succeed Robert and help NCS execute today as well as capture the opportunities that lie ahead. On behalf of the Board, I wanted to thank Robert for his incredible leadership and dedication, and we are confident that his knowledge of the Company and industry will continue to be an asset to our Board.”

Mr. Nipper commented, “It has been an honor to lead NCS since its founding. It has been a pleasure to work with Ryan for many years and I am pleased to recommend his appointment as the Chief Executive Officer of NCS. Mr. Hummer joined the Company in 2014 and has been instrumental to our success and has gained the respect and trust of myself, our Board of Directors and our employees. This transition is a great development — and Ryan’s character, knowledge of NCS, and proven abilities as a leader make him ideally suited to serve as our next CEO. As a shareholder, I believe our best days are ahead of us and look forward to contributing to and supporting the team wherever needed.”

Mr. Hummer, age 45, has served as the Company’s Chief Financial Officer since November 2016 and also as Treasurer since March 2020. Mr. Hummer previously served as Executive Vice President, Corporate Development since August 2015 and as Vice President, Corporate Development from July 2014 until August 2015. Mr. Hummer holds a B.S. in Economics from the Wharton School of the University of Pennsylvania.