Liberty Energy Inc. (NYSE:LBRT) shares are trading higher premarket on Monday. The company disclosed that the Board of Directors intends to appoint William Kimble as non-executive Chairman and Ron Gusek as Chief Executive Officer.

Wright, the founder and CEO of Liberty Energy, will need to try and boost US energy production as electric vehicles (EVs) and cryptocurrency trading push up demand.

Trump picked industry executive Chris Wright as his nominee to be Energy secretary and to join a new Council of National Energy.