Energy, Utilities & Water March 18, 2025 2:03:42 pm

DMC Global’s legal exec to depart this month

By Lucas High

BROOMFIELD — The game of musical chairs within DMC Global Inc.’s (Nasdaq: BOOM) c-suite will continue as the company’s chief legal officer is expected to leave her post before the end of the month.

In a recent regulatory filing, the Broomfield-based oilfield-services, construction-products and infrastructure operator disclosed that Michelle Shepston, who also serves as DMC’s executive vice president, will resign on March 28 “before beginning a new professional opportunity in Denver, Colorado.”

In an email to BizWest, a DMC spokesperson said, “We are evaluating whether we will fill the CLO position, but in the meantime, we have an exceptionally strong internal legal team.”

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Shepston’s departure comes amid a tumultuous period for DMC Global and just a few months after ex-CEO Michael Kuta retired suddenly in late 2024.

Appointed as DMC’s CEO in August 2023, Kuta had served as DMC’s interim co-CEO and before that was chief financial officer. He rose to the interim position after the abrupt departure of the company’s previous CEO in early 2023. DMC chairman James O’Leary is the company’s interim leader.

DMC has three business units: DynaEnergetics, the company’s energy-industry services division; NobelClad, DMC’s industrial infrastructure and transportation division; and Arcadia, a supplier of architectural building products.

In early October 2024, James Chilcoff stepped down as president of Arcadia. Early this year, DMC hired Jim Schladen as Arcadia’s new president, an effort to right the ship at the architectural building products supply division.

Amid the leadership changes, DMC leadership considered — then abandoned — plans to sell off certain business units, fended off an unsolicited takeover bid from supply-chain-management firm Steel Connect Inc and was sued by an an investor who claimed that company executives intentionally withheld information about potential weakness, a decision that hurt shareholders when DMC’s stock price plunged in 2023 after disclosures painted a less-than-rosy picture of DMC’s performance and outlook.

O’Leary wrote this month in DMC’s annual letter to its stakeholders that company leadership acknowledges that “2024 was a very challenging year for your company,” but added that DMC “began stabilizing operations across our organization” last year.

Despite less-than-ideal “macroeconomic conditions,” DMC is “focusing on stabilizing and improving our operational performance and underlying cost structure,” O’Leary wrote.

The game of musical chairs within DMC Global Inc.’s (Nasdaq: BOOM) c-suite will continue as the company’s chief legal officer is expected to leave her post before the end of the month.