Business Context and Reporting Period
This Form 8-K is a current report filed by Select Energy Services, Inc. (ticker: WTTR) on April 5, 2021, regarding events occurring on April 2, 2021. The filing addresses a realignment of leadership responsibilities within the company's organizational structure.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance.
Material Changes
Effective April 2, 2021, the Company implemented the following leadership changes:
- Michael Skarke: Transitioned from Executive Vice President, Corporate Development, Sales and Operational Support to Executive Vice President and Chief Operating Officer. He will now oversee all operating segments.
- Adam Law: Transitioned from Senior Vice President, General Counsel and Corporate Secretary to Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer. He will now oversee legal, human resources, safety, and compliance functions.
Guidance, Outlook, and Risks
The filing states that the Company has not and does not intend to enter into or amend any compensatory arrangements with Mr. Skarke or Mr. Law in connection with these role changes. No new guidance, outlook, or specific risk factors were disclosed in this report. The Company confirmed there are no family relationships between the officers and other directors or executives, nor any undisclosed arrangements regarding their selection.
Investor Verification Checklist
- Verify the biographies of Michael Skarke and Adam Law in the definitive proxy statement filed on March 25, 2021.
- Confirm that no compensatory arrangements were amended as a result of the leadership realignment.
- Monitor future filings for the operational impact of the new Chief Operating Officer overseeing all segments.