Mammoth Energy Services, Inc. (NASDAQ: TUSK) ("Mammoth" or the "Company") announced that Arty Straehla has notified Mammoth's Board of Directors of his decision to retire as the CEO of the Company, effective as of December 31, 2024. He will remain the CEO of the Company until Phil Lancaster, who currently serves as the Company's Vice President of Corporate Development, transitions into the role of the Chief Executive Officer. Mr. Lancaster will assume the role of the Company's Chief Executive Officer effective as of January 1, 2025. In connection with Mr. Straehla's pending retirement, Mr. Straehla has also resigned as a director of the Company, effective as of December 31, 2024.
Arthur Amron, chairman of Mammoth's Board of Directors, stated, "On behalf of the Board and the entire Mammoth team, I want to thank Arty for his years of service as Mammoth's CEO and Board member and valuable contributions to the Company. We wish him well in his retirement.
"We have complete confidence in Phil's capabilities to carry out Mammoth's business strategy and lead Mammoth into the future to unlock further value. Phil has a wealth of experience and knowledge, boasting over 20 years of experience in the energy industry that includes senior leadership roles and public board service," added Amron.
Phil Lancaster Biographical Details
Mr. Lancaster has over 20 years of experience in the energy industry. Mr. Lancaster currently serves as the Vice President of Corporate Development of Mammoth. Mr. Lancaster also served as interim President of Cobra Acquisitions LLC, Higher Power Electrical LLC and 5 Star Electric LLC, Mammoth's infrastructure subsidiaries, from June 2019 to November 2019. Prior to these positions, Mr. Lancaster served as President of Mammoth Energy Partners LP. from 2014 to 2015, as Chief Executive Officer of Redback Energy Services LLC from 2011 to 2015 and as Chief Executive Officer of Great White Energy Services, Inc. from 2006 to 2010, each an oil field services company. From 2010 to 2011, Mr. Lancaster was a consultant to Wexford Capital LP in connection with energy-related investments. Mr. Lancaster previously served on the boards of directors of two public companies, Bronco Drilling Company, Inc., a drilling company, from August 2005 until July 2006, and Gulfport Energy Corporation, an exploration and production company, from February 2006 until August 2006. Mr. Lancaster received a Bachelor of Science degree from the David Lipscomb College. Additional information on Mr. Lancaster can be found in the Form 8-K filed by the Company.
