Williams Companies announced that its CEO Alan Armstrong will resign after more than 14 years in the role, with company insider Chad Zamarin succeeding him. The appointment will take effect from July 1. Armstrong has been with Williams for nearly 40 years, and current Executive Vice President Chad Zamarin joined the company in 2017. Williams' first-quarter performance exceeded expectations, with revenue growth of nearly 10% and an increase in service income. The company raised its adjusted core profit forecast for 2025, expecting it to be between 7.50 billion and 7.90 billion USD. The company benefits from increased natural gas demand, mainly driven by surging power consumption from homes, businesses, cryptocurrency mining, and artificial intelligence data centers. The US energy regulatory agency reinstated Williams' Transcontinental natural gas pipeline certificate, supporting project expansion. The average daily transportation volume in the first quarter increased from 14.60 million dekatherms last year to 15.90 million dekatherms. Adjusted earnings per share were 0.60 USD, above analysts' expectations of 0.56 USD.

May 5 (Reuters) - Williams Companies  (WMB.N) , opens new tab  said on Monday CEO Alan Armstrong will step down after more than 14 years at the helm of the U.S. pipeline operator. Armstrong, who joined Williams nearly 40 years ago, would be succeeded by insider Chad Zamarin, effective July 1. Zamarin, who joined the company in 2017, is currently the executive vice president of corporate strategic development. Williams on Monday also beat quarterly earnings estimates and raised its annual profit forecast, as it banked on rising demand for natural gas, driven by a  surge in electricity consumption  by homes, businesses, crypto-mining, and an artificial intelligence-led boom in data centers. "Williams is well positioned to benefit from the coming wave of natural gas demand from the power generation market and LNG exports, while continuing to deliver on traditional market needs," Armstrong said. The firm raised its 2025 adjusted core profit to be between $7.5 billion and $7.9 billion compared to its prior outlook range of $7.45 billion to $7.85 billion. Its first-quarter results were boosted by higher service revenues from expansion projects and acquisitions. In January, the U.S. energy regulator  reinstated  the certificate for Williams' Transcontinental gas pipeline, allowing it to go ahead with expansion of the project, after a U.S. court  voided  the initial approval in 2023. Total revenue rose nearly 10% to $3.05 billion during the quarter ended March 31, while service revenues climbed to $2 billion from $1.91 billion a year ago. At Transco, average daily transportation volumes rose to 15.9 million dekatherms (MMdth) of natural gas per day in the first quarter from 14.6 MMdth per day of natural gas a year ago. The company posted an adjusted profit of 60 cents per share for the quarter ended March 31, compared with average analysts' estimate of 56 cents per share, according to data compiled by LSEG.

Alan Armstrong, CEO of Williams Company, has resigned, and Chad Zamarin will succeed him.