Exhibit 99.1
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Contact: Amie D’Ambrosio (713) 375-3826 |
FOR IMMEDIATE RELEASE
NOV Appoints Patricia Melcher to the Board of Directors
HOUSTON, TX, January 17, 2024 – NOV Inc. (NYSE: NOV) announced today that Patricia B. “Patti” Melcher has been
appointed to the Company’s Board of Directors, effective January 17, 2024. Ms. Melcher is currently a Managing Partner of EIV Capital, an energy-focused private equity firm she co-founded in
2009.
“We are pleased to welcome Patti to our board of directors and look forward to her contributions and insights in capital allocation and
governance,” said Clay Williams, Chairman, President, and Chief Executive Officer. “Patti is an outstanding business leader who brings decades of oilfield service and sustainable energy investing experience to our board, who will help
guide our innovations to empower the energy industry to create value for NOV shareholders.”
Prior to
co-founding EIV Capital, Ms. Melcher founded Allegro Capital Management in 1997, an investment firm which made equity investments in energy companies and provided consulting services. During her tenure at
Allegro, she served as interim chief executive officer for Petrocom Energy Group from 2003 to 2004. Ms. Melcher joined SCF Partners at its formation to focus on private equity investments in the oilfield services sector and held positions of
increasing responsibility from 1989 to 1994. Ms. Melcher has over 35 years of energy business experience, beginning her career as an investment banker for Simmons & Company International in 1986. Ms. Melcher received a Bachelor of
Science in Systems Engineering from the University of Virginia and a Master of Business Administration from Harvard University.
With the appointment of
Ms. Melcher, NOV Inc.’s board of directors is now composed of nine directors, eight of whom are independent members.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its
customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy
transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Source: NOV Inc.
CONTACT:
Amie D’Ambrosio
Director, Investor Relations
(713) 375-3826
amie.dambrosio@nov.com
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