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Stock impact report

Natural Gas Services Group Names Mill Road's Jacobs CEO [MarketWatch]

Natural Gas Services Group, Inc. (NGS) 
Last natural gas services group, inc. earnings: 11/7 06:00 am Check Earnings Report
Company Research Source: MarketWatch
Natural Gas Services on Thursday said Justin Jacobs, a managing director of investment firm Mill Road Capital, will become CEO on Feb. 12. Advertisement The Midland, Texas, provider of gas-compression equipment, technology and services said Stephen Taylor, who had been serving as interim CEO since 2022, will remain chairman and will provide transition services for six months. Natural Gas Services last year struck a cooperation agreement with Mill Road, which hold a roughly 7.4% stake in the company, according to data from FactSet. As part of the agreement, Natural Gas Services appointed Jacobs to its board, and the company on Thursday said he will remain a director after he becomes CEO. Natural Gas Services said Jacobs, 49 years old, will receive an initial annual base salary of $525,000 and an annual cash bonus with a target of 100% of his base pay. Write to Colin Kellaher at colin.kellaher@wsj.com Show less Read more
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