Schlumberger Appoints Olivier Le Peuch as CEO
July 19 2019 - 6:46AM
Business Wire
Mark G. Papa to Become Chairman of the
Board
Schlumberger Limited (NYSE: SLB) announced
today that its Board of Directors has appointed Olivier Le Peuch as
its Chief Executive Officer and member of the Schlumberger Board,
effective August 1, 2019. Mr. Le Peuch succeeds Paal Kibsgaard, who
will retire as Chief Executive Officer effective that same date.
Also effective August 1, Mr. Kibsgaard will step down as Chairman
of the Board and retire as a member of the Board of Directors. Mr.
Kibsgaard will retire after more than 22 years of service to the
Company, including eight years as CEO and four years as Chairman.
Effective the same date, Mark G. Papa, a current non-independent
director, will become non-executive Chairman of the Board. Peter
Currie will continue to serve as the Board’s Lead Independent
Director.
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Olivier Le Peuch is appointed Chief
Executive Officer and a member of the Schlumberger Board, effective
August 1, 2019. (Photo: Business Wire)
In his 32 years with the Company, Mr. Le Peuch has held a
variety of global management positions, including Executive Vice
President, Reservoir & Infrastructure; President of the Cameron
product lines; President of Schlumberger Completions; and Vice
President of Engineering, Manufacturing and Sustaining. Earlier in
his career, Le Peuch was GeoMarket Manager for the North Sea and
President of Software Integrated Solutions.
Mr. Kibsgaard commented, “Olivier possesses the Company’s
values, an in-depth knowledge of our business, and a proven
industry track record—all together, he is ideally suited to lead
Schlumberger into the next chapter of our history.” Mr. Le Peuch
added, “I am truly honored at being chosen to lead Schlumberger and
its world-class workforce at a very exciting time in our Company’s
history. I would like to thank Paal for his leadership and
contributions to the Company, along with his guidance during the
succession process.”
Commenting on the CEO succession, Mr. Currie said, “The Board
joins me in thanking Paal for his more than 22 years of service to
Schlumberger. Paal navigated the Company through the worst downturn
in the history of the industry and set us on the right course to
win in a different landscape. The Board owes Paal a debt of
gratitude for his excellent leadership in modernizing and
transforming the Company to ensure its continued future success. We
wish Paal the very best as he enters a new chapter in his life.”
Mr. Papa added, “The Board welcomes Olivier as Chief Executive
Officer and is highly confident that Schlumberger will continue to
grow and prosper under his leadership.”
About Schlumberger Schlumberger is the world's leading
provider of technology for reservoir characterization, drilling,
production, and processing to the oil and gas industry. With
product sales and services in more than 120 countries and employing
approximately 100,000 people who represent over 140 nationalities,
Schlumberger supplies the industry's most comprehensive range of
products and services, from exploration through production, and
integrated pore-to-pipeline solutions that optimize hydrocarbon
recovery to deliver reservoir performance.
Schlumberger Limited has executive offices in Paris, Houston,
London and The Hague, and reported revenues of $32.82 billion in
2018. For more information, visit www.slb.com.
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Investors Simon Farrant, Vice President of Investor
Relations, Schlumberger Limited Joy V. Domingo, Director of
Investor Relations, Schlumberger Limited Office +1 (713) 375-3535
investor-relations@slb.com
Media Joao Felix, Director of Corporate Communication,
Schlumberger Limited Office +1 (713) 375-3535
communication@slb.com
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