Redefining the vision of Varel, changing the name and embarking on a complete rebrand during the most difficult time in history was the task of Derek Nixon. The newly appointed CEO to Varel Energy Solutions in 2020. Prior to taking on the role at VES, he served as the Vice President of Downhole Products (DHP), leading one of the leading global providers in primary cementing equipment. Derek started working in the oilfield 14 years ago with Varel Oil Gas Drill Bits in the Barnett Shale as a field sales professional while eventually working through various levels of commercial and global operational leadership responsibilities. Having Varel and DHP under the same ownership structure allowed Derek to transition effectively in leading multiple facets of product manufacturing businesses.
The Nixon name is not new to Varel. His father, Jim Nixon,acquired Varel International in the1980’s as a $30 million dollar business and successfully sold the business for over$700 million. The story is a unique one, Varel has been purchased and sold numerous times, all with a healthy financial return. Derek's father was a key component to the success of Varel. As you can imagine being the CEO’s son wasn’t the easiest situation for Derek. Nothing was going to be handed to him, he started at the ground level. He talks about what it was like being tagged as the “ son of the CEO”, the hurdles he had to overcome and his beliefs on how a business should be run to be successful - Derek's biggest strength is putting the right team together. He talks about how this can make or break the business.
He became CEO a few days after Covid hit. When he took over Varel International had 1200 employees. As a new CEO fresh in his role, he had to take on a gut wrenching task to reduce the size of the business by 400 employees in order to adjust to the impact of Covid. Derek talks about this period and how he brought the team together to take on the most difficult time in the company's history. In the middle of this Derek and his team decided to re-brand the company VarelEnergy Solutions, more accurate and reflective ‘who they are’. They recognized the need to develop a new brand, name and presence online, this was the perfect time to do it. He walks us through their vision and the steps they took to make the re-brand successful.
We ask Derek what ESG means to Varel. He outlines the ESG drivers and how each customer can make a difference through their Tree Planting program. He talks about the initiatives VES is driving to cultivate the right behavior and thought process around being environmentally conscious. He openly tells about the descepaciy between male and female ratio and how VES is working to close the gap.
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To find out more about our sponsor Varel Energy Solutions please visit: Varel Energy Solutions
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