EQT Corp. announced this morning it’s hired David Khani as chief financial officer, luring him from fellow Western Pennsylvania energy company Consol Energy, Kallanish Energy reports.
Kyle Derham, who has been serving as the company’s interim CFO since former CFO Jimmi Sue Smith was ousted last August, will remain with EQT in an advisory role to ensure a smooth transition before returning to his role as a partner with Rice Investment Group.
“David is an ideal leader for our organization, bringing a unique combination of Appalachian E&P leadership, financial and capital markets acumen and experience in dynamic organizational transformation,” said EQT president and CEO Toby Z. Rice.
Khani had been Consol’s executive vice president and CFO since 2013, initially overseeing the combined natural gas and coal company and most recently the coal operations post spin-out of CNX Resources in November 2017.
In addition, Khani served as a director and CFO of CNX Midstream Partners from its initial public offering in September 2014, until January 2018.
“I am thrilled to join EQT during this exciting and transformational time,” said Khani. “The company has made significant progress over the last six months (since Rice, brother Derek and their team swamped the former EQT executive suite and assumed command post-shareholders meeting).”
Khani had informed Consol on Dec. 27 he was leaving the company effective Dec. 31, according to a Securities and Exchange Commission filing.
Mitesh Thakkar has been appointed Consol’s interim CFO, effective Jan. 1. He’s served as director of Finance and Investor Relations of Consol and Consol Coal Resources LP (CCR) since November 2017, and as director of Finance and Investor Relations of CCR since May 2015.
EQT also gave an update on the company’s 100-day plan post Toby Rice et. al. assuming command. All remaining “evolution initiatives” to put the company on its new executive team’s designated path have been delegated for execution and evolutiuon committee member Derek Rice has left EQT and returned to his previous job as a partner with Rice Investment Group.
This post appeared first on Kallanish Energy News.