C&J Energy Services Inc. issued the following announcement on Aug. 15.
C&J Energy Services, Inc. ("C&J" or the "Company") (NYSE: CJ) announced that Jan Kees van Gaalen has been appointed Chief Financial Officer and he is expected to join C&J on September 17, 2018. In this role, Mr. van Gaalen will lead the Company's finance strategy and oversee the Company's financial operations, including budgeting and planning, treasury, accounting, tax, reporting and investor relation functions. Mike Galvan, who has served as C&J's Interim Chief Financial Officer since March 2018, will continue in his position as Senior Vice President – Chief Accounting Officer, reporting to Mr. van Gaalen.
"We are pleased to welcome Jan Kees van Gaalen to our team, where he will make an immediate impact in providing leadership to our financial organization," said C&J's President and Chief Executive Officer, Don Gawick. "He joins us at an ideal time as we continue to streamline our cost structure with a focus on reducing SG&A, maintain discipline in capital deployment based on targeted returns, generate free cash flow and optimize our balance sheet. We are working on a finance transformation and other strategic initiatives to improve efficiency across the organization, underpinning our growth momentum. Jan Kees is a veteran of the energy industry with a diverse set of skills and a proven record of leading successful business and financial transformations. He brings a rigorous approach to the CFO role, with extensive experience and expertise in identifying and executing key initiatives, which will support the continued growth and strategic direction of the Company. On behalf of C&J's Board of Directors and executive management team, we look forward to working with Jan Kees to deliver long-term sustainable and profitable growth, cash flow and shareholder value."
Mr. Gawick continued, "Additionally, on behalf of C&J's Board of Directors, executive management team and our C&J family, I thank Mike Galvan for his great work as Interim CFO over the past several months. As we conducted the CFO search process, it was important that we identify the right individual to both assist us in the completion of our transformation and contribute into the future. Mike's tremendous efforts and dedication provided a seamless transition and allowed us to take time to find a seasoned and strategic CFO of Jan Kees' caliber. We are thankful for Mike's many contributions during this time."
"I am honored to join the C&J team at this exciting time," said Jan Kees van Gaalen. "I look forward to building on the significant progress that has already been made positioning the Company for profitable and sustainable growth and positively contributing to the Company's strategic priorities. I believe C&J has a talented management team and tremendous potential for further efficiency and profitability improvement. I am delighted for the opportunity to bring my background and skills to work to help the Company achieve greater results for our people and shareholders."
Jan Kees van Gaalen is a seasoned, strategic CFO with more than 35 years of global experience in business analytics, treasury, audit, business development and commercial management. He has served as Vice President and Chief Financial Officer of Kennametal, Inc. since September 2015. Prior to joining Kennametal, Inc., Mr. van Gaalen served as Executive Vice President and Chief Financial Officer for Dresser-Rand Group Inc., and he previously held several financial leadership positions including Vice President and Treasurer for Baker Hughes, Inc. and Vice President Financial and Chief Financial Officer for PT Vale Inco TBK (formerly PT Inco TBK), in Jakarta, Indonesia.
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