Total Operations and Production Services (TOPS) Announces Leadership Transition

Rhea-AI Summary

Total Operations and Production Services (TOPS) announced the retirement of Founder and CEO L.D. Green, who will transition to Chairman of the Board. Brian Green, previously Chief Operating Officer, will succeed him. Under L.D. Green’s leadership since 1996, TOPS has become a leader in environmentally friendly, electric-drive compressors in the Permian Basin, aiding in emissions reductions. Brian Green expressed enthusiasm for continuing TOPS' growth amid increasing demand for its services. Apollo's Scott Browning praised TOPS' performance and Brian's role in its growth.

Positive

• Brian Green's appointment as CEO may bring fresh perspectives and continuity from his operational experience.
• TOPS is positioned for growth with increasing demand for its environmentally friendly products.

Negative

• L.D. Green's retirement may raise concerns regarding continuity in leadership and potential experience gaps.
• -

MIDLAND, Texas, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Total Operations and Production Services, LLC (“TOPS”, or the “Company”) today announced that L.D. Green, Founder and Chief Executive Officer, has elected to retire and transition to serving as Chairman of the Company’s Board of Directors. The Board of Directors has appointed Brian Green, formerly Chief Operating Officer of TOPS who has been with the Company since 2006, to succeed L.D. Green as Chief Executive Officer.

Since its founding in 1996, TOPS has transformed under L.D. Green’s leadership to what is today the leading provider of environmentally friendly, electric-drive compressors under contract to top-tier customers in the Permian Basin. TOPS’ electric compressors enable meaningful CO₂ and methane emissions savings for operators, helping the industry meet its emissions reduction objectives. L.D. Green commented, “I am extremely proud of what we have built at TOPS and look forward to supporting the next phase of growth through the Chairman role. We have developed an impressive team and I am confident in Brian’s abilities to take the Company to the next level.”

Brian Green added, “I am excited to take on these new responsibilities and grateful for L.D.’s leadership to date. We have all of the right ingredients in place to continue building on our success as demand for our units and services continues to reach record levels due to our track record for high quality service and our environmentally friendly solutions. The next year will bring several milestones as we reach new levels of scale, set our first 2,000 Horsepower unit, and continue to expand our offerings with our customer-oriented focus.”

Scott Browning, Partner at Apollo, commented, “We are impressed by how TOPS has performed through our first 18 months together. Brian has been instrumental to navigating the Company through a period of rapid growth as ongoing electrification trends and the TOPS operating track record have led to increased demand. We are thrilled for Brian to lead the next phase of growth as CEO and want to congratulate L.D. on his retirement after a pioneering career in the gas compression sector.”

About Total Operations and Production Services, LLC

Based in Midland, Texas, TOPS, a portfolio company of funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO), is a leading provider of contract gas compression services for the Permian Basin. TOPS specializes in lower emission, electric driven compression for gas lift and other applications. TOPS’ natural gas compressors feature industry leading technology allowing for complete remote monitoring of all operating conditions. These features ensure industry leading up-time, transparency and a compressor package built to take advantage of the latest in automation enhancements. To learn more, please visit www.total-operations.com.

FAQ

What significant leadership change occurred at TOPS on January 9, 2023?

L.D. Green retired as CEO and became Chairman, with Brian Green appointed as the new CEO.

Who is the new CEO of TOPS and what is his background?

Brian Green, who has been with TOPS since 2006 and previously served as COO, is the new CEO.

What impact might Brian Green's appointment have on TOPS?

Brian Green's leadership is expected to drive continued growth and expansion of TOPS' environmentally friendly services.

What are TOPS' main products and services?

TOPS specializes in lower emission, electric-driven gas compression services in the Permian Basin.

How has TOPS performed under L.D. Green's leadership?

Under L.D. Green's leadership, TOPS became a leading provider of electric-drive compressors, significantly contributing to emissions savings.