September 16, 2022 – Houston-based executive search firm Preng & Associates recently assisted in the recruitment of former BP CEO Bob Dudley as a new member of the board of directors for 8 Rivers Capital LLC, a global Net Zero solutions provider. “As long as I can remember, Bob was ahead of the curve in driving to Net Zero,” said Bill Brown, founder, executive chairperson and CTO of 8 River. “He drove BP into areas such as solar, wind, hydrogen fuel cells, biofuels, carbon capture, and clean power—all cornerstones of the 8 Rivers platform. This is the sort of leadership that makes Bob uniquely capable to help guide 8 Rivers as it defines, executes, and delivers Net Zero solutions that the entire world can afford. Our goal is to expand the bottom lines of all end users while increasing their value as they demonstrate a commitment to sustainability.”
Mr. Dudley held the position of CEO at BP from 2010 to 2020. Under his leadership, the global energy provider focused on the dual challenge of providing more energy with fewer greenhouse gas emissions. Mr. Dudley had a distinguished career with BP and its predecessors spanning over 40 years, serving in a broad range of engineering, commercial, strategic, international, and executive roles. He is currently a member of the board of directors of Freeport-McMoRan, one of the world’s largest, publicly traded copper producers, the chemical company LyondellBasell, and chairs the international, industry-led Oil and Gas Climate Initiative.
“We are thrilled to have someone with Bob’s background, knowledge and dedication to the energy transition join our board,” said Cam Hosie, 8 Rivers’ CEO and board member. “Reaching Net Zero by 2050 is the most significant challenge facing the planet today, and the energy transition will be won or lost in the next decade. Bob brings the expertise required to achieve fast, sustainable change at global scale.”
Mr. Young Wook Lee, president of SK Inc. Materials welcomed Mr. Dudley’s involvement. “I would like to congratulate Mr. Dudley, a world-renowned energy expert, on his appointment to the board,” he said. “With extensive experience and unmatched capabilities, he is undoubtedly a valuable addition to the CO2 reduction businesses promoted by 8 Rivers and SK Inc. Materials and he will greatly help expedite our goal for becoming leading global Net Zero solution company”
“Few companies in the world have a Net Zero solution set as affordable and as broadly useful as 8 Rivers,” said Mr. Dudley. “Through its combined platform of technology and finance, 8 Rivers is uniquely positioned to help the planet meet its Net Zero goals—all at costs the entire world can afford. 8 Rivers has a fantastic team, and I am very pleased to be its newest member.”
8 Rivers Capital, LLC is a Durham, NC-based firm leading the invention and commercialization of sustainable, infrastructure-scale technologies for the global energy transition.
Preng & Associates, founded in 1980, is a retainer-based, international executive search firm specializing solely in the energy industry. The firm’s experience spans the entire energy value chain – from the well head to the wall socket. Its subsector verticals have specific expertise in oil and gas (upstream, midstream, and downstream), oilfield equipment and services, power and utilities, renewables, engineering and construction and industrials. The recruiting outfit has conducted more than 3,800 engagements for over 800 companies and placed highly qualified individuals for board, executive management, and professional positions in 91 countries, according to the firm.
David Preng, the firm’s founder, president, and CEO, has worked on over 2,000 energy-related searches during his career, ranging from board and senior executive to managerial and senior technical positions. His current focus is primarily at the board, CEO, and C-suite level roles. Mr. Preng’s industry experience includes financial, managerial, and executive positions with Shell Oil, Litton Industries, and Southwest Industries.
New Challenges for the Energy Sector
Over the last decade, clean technology, solar and electric energy, and sustainability have moved from the periphery to the center of the global economy. Established and emerging companies, along with private equity and venture capital firms, are making massive investments across the field as they stake out expanding areas of the market. This has driven demand for a new breed of leadership, according to a new report from Russell Reynolds Associates.
Among the search firm’s new research are tips for identifying and hiring leaders in clean-tech, new energy and sustainability. “Governments have made sustainability and the technology needed to achieve it a key component of both environmental policy and economic development,” said Russell Reynolds Associates. “The question no longer is whether this trend will take hold but rather when large markets will coalesce and which technologies and companies will prevail. Current global economic conditions and gyrating energy prices have made operating and investment conditions challenging in the short run, but industry players nonetheless are moving to capture mind share and press their speed-to-market advantage.”
Preng & Associates Assists SeekOps in CEO Search
Preng & Associates has assisted SeekOps in the recruitment of Iain Cooper as its new CEO. The move strengthens the current executive team as the company’s founder and CEO of three and a half years, Andrew Aubrey, transitions to a new role as senior vice president of strategic partnerships.
The influence of clean-tech, energy, and sustainability extends beyond the diverse array of companies focused on this market space. “Sustainability has become a strategic leadership issue in virtually every industry as enterprises rethink everything from product design to facilities strategies in the face of regulatory developments, increasing scarcity of resources and rising costs,” said the search firm. “Forward-thinking companies are appointing chief sustainability officers to proactively address these issues and turn them into opportunities for growth.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media