PITTSBURGH, Dec. 1, 2023 - CNX Resources Corp. (NYSE: CNX) ("CNX" or "the company") today announced that Timothy S. Bedard will join the company this month as Executive Vice President, General Counsel, and Corporate Secretary.
Most recently, Mr. Bedard served as the head of legal for Visa's Value Added Services business where he led a team of lawyers and legal professionals responsible for all legal and regulatory issues related to Visa's Value Added Services. Prior to his Value Added Services role, he served as Visa's chief intellectual property (IP) counsel where he led a worldwide team of lawyers and IP professionals responsible for IP licensing, patent litigation, technology transactions, M&A-related IP issues, and patent preparation and prosecution. Prior to Visa, Mr. Bedard spent a decade leading IP strategy across Johnson & Johnson's medical device operating companies. Mr. Bedard began his legal career as an IP litigator at Kirkpatrick & Lockhart, now K&L Gates LLP. Prior to law school he served as an officer in the U.S. Navy. Mr. Bedard holds a BS in Industrial Engineering from the University of Pittsburgh, a Juris Doctor from the Duquesne University School of Law, and an MBA from Yale.
"We are incredibly excited for Tim to join our already deep and talented executive management team at CNX," commented Nick DeIuliis, President and CEO. "We continue to attract world-class talent across our executive management ranks, which I believe is a direct reflection of our best-in-class asset base and opportunity-set that affords our leaders the opportunity to create meaningful shareholder value. Tim's extensive expertise in IP and technology and significant depth of experience partnering with management teams will be a critical element in accelerating the growth of our New Tech business opportunities and the continued execution of our sustainable business model."
Tim is replacing former Executive Vice President, General Counsel and Secretary Alexander J. Reyes. CNX and Mr. Reyes have mutually agreed that he will separate from service without cause from the company later this month. After over 16 total years of dedicated service in various roles over two separate timeframes and his many meaningful contributions to the company, Mr. Reyes is departing the company to pursue other career opportunities.
About CNX Resources
CNX Resources Corp. (NYSE: CNX) is unique. We are a premier, low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 158-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2022, CNX had 9.81 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.
We are including the following cautionary statement in this press release to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of us. With the exception of historical matters, the matters discussed in this press release are forward-looking statements (as defined in 21E of the Securities Exchange Act of 1934 (the "Exchange Act")) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income, and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," "will," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe a strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond our control. Specific factors that could cause future actual results to differ materially from the forward-looking statements are described in detail under the captions "Forward-Looking Statements" and "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (SEC) and any subsequent reports filed with the SEC. Those risk factors discuss, among other matters, pricing volatility or pricing decline for natural gas and NGLs; local, regional and national economic conditions and the impact they may have on our customers; the impact of events beyond our control, including a global or domestic health crisis; dependence on gathering, processing and transportation facilities and other midstream facilities owned by others; conditions in the oil and gas industry; our current long-term debt obligations, and the terms of the agreements that govern that debt; strategic determinations, including the allocation of capital and other resources to strategic opportunities; cyber-incidents targeting our systems, oil and natural gas industry systems and infrastructure, or the systems of our third-party service providers; and changes in safety, health, environmental and other regulations.
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SOURCE CNX Resources Corp.
Contacts: Investor: Tyler Lewis, at (724) 485-3157 or Media: Brian Aiello, at (724) 485-3078