McCoy Global Taps Veteran Insider for CEO in Seamless Transition

EDMONTON, AB – February 26, 2026 – McCoy Global Inc. (TSX: MCB) is set to undergo a significant leadership change, but one marked by deliberate continuity rather than disruption. The Edmonton-based energy technology firm announced today that Jim Rakievich, its President and Chief Executive Officer for over two decades, will retire effective May 14, 2026. Stepping into the role will be Bing Deng, a fellow 20-year company veteran and the current Chief Operating Officer.

The transition, described by the company’s Board of Directors as a "deliberate and well-established succession plan," signals a commitment to maintaining strategic direction in a rapidly evolving energy sector. For investors and industry observers, the move is a clear vote of confidence in an internal leader who has been instrumental in shaping the company's recent technological and commercial success.

A Two-Decade Legacy of Transformation

Jim Rakievich’s departure marks the end of a significant era for McCoy Global. Appointed President and CEO in 2002, he has been at the helm for nearly a quarter-century, guiding the 100-year-old corporation through a period of profound evolution. Under his leadership, McCoy transformed from a regional player into a global force in well construction technology, with operations now spanning over 50 countries.

His tenure was characterized by strategic acquisitions that broadened the company's capabilities, the successful launch of an innovative product portfolio, and a pivotal expansion into key markets in the United States and the Eastern Hemisphere. Beyond the balance sheet, Rakievich is widely credited with cultivating a relationship-driven culture grounded in integrity and customer focus. This approach has been foundational to McCoy's strong reputation among its customers, partners, and employees.

"On behalf of the Board of Directors of McCoy Global I would like to thank Jim for his quarter century of service and leadership to the people and shareholders of McCoy," said Mr. Terry Freeman, Chairman of the Board of Directors. "There is no greater compliment to a leader than the successful preparation of a team and individuals to provide for leadership transition, and we welcome Bing to his new role and many years of continued success."

The Architect of the Future Takes the Helm

The choice of Bing Deng as successor underscores the company's focus on a technology-driven future. Deng is no newcomer; having joined McCoy more than 20 years ago, he has held progressively senior roles that have given him a comprehensive understanding of the business, from engineering to market strategy. With a degree in Computer Engineering, his career path has woven through technology, marketing, sales, and operations, culminating in his appointment as COO in January 2024.

The Board has identified Deng as a "key architect of McCoy's long-term strategic roadmap." His influence is particularly visible in the company's push toward automation and smart technology. As Vice President of Technology & Marketing, he was instrumental in the commercialization of new solutions like the Flush Mount Spider (FMS) technology, which enhances safety and performance in casing running services. These "smartProduct" lines are at the core of McCoy's vision to transform well construction using automation and machine learning.

Under Deng's operational and commercial leadership, the firm has strengthened its global platform and executed initiatives that have directly translated into improved financial results. The Board expressed its confidence that Deng will continue this momentum, with a clear focus on disciplined growth and operational excellence.

Continuity in the Digital Oilfield

The transition from a long-tenured CEO can often introduce uncertainty, but McCoy's approach appears designed to mitigate this risk. By promoting an insider who is already deeply embedded in the company's strategic planning, the board ensures a seamless handover of institutional knowledge and vision. This stability is crucial in the competitive oilfield services sector, where major players like Schlumberger and Halliburton are also heavily investing in digitalization.

McCoy Global has carved out a niche by providing "Smart Solutions for rugged applications," focusing on automating the critical well construction phase. Deng's deep technical background and his track record of successfully bringing technology from the lab to the global market align perfectly with this strategy. His leadership is expected to accelerate the company’s focus on leveraging machine learning and data analytics to maximize wellbore integrity and provide critical data to energy producers. This internal promotion signals to the market that McCoy is doubling down on its identity as a technology innovator rather than pivoting away from its core strategy.

Financial Strength and Shareholder Confidence

The leadership announcement comes at a time of financial health for McCoy Global, reinforcing the narrative of a successful strategy that Deng is now tasked with continuing. The company's recent investor presentations highlight impressive growth in its high-margin "smartProduct" revenue, which surged 504% in 2023 and continued its strong trajectory through 2024.

This performance has enabled the company to enhance shareholder returns, a key focus for any publicly traded firm. After reinstating its quarterly dividend in 2023, McCoy has since more than doubled it, offering a competitive yield. Furthermore, the company has been actively repurchasing its own shares under a normal course issuer bid, signaling management's belief that its stock is undervalued and demonstrating confidence in its financial future.

This solid financial footing provides the new CEO with a strong platform from which to operate. The market's initial reaction has been calm, reflecting an appreciation for the well-planned nature of the succession. As Bing Deng prepares to take the helm, he inherits not just the legacy of his predecessor but also a company that is financially robust, strategically focused, and poised to continue its push to automate the future of the energy industry.