NOV Announces Retirements and Appointments of Officers and Consolidation of Operational Segment Structure
October 26 2023 - 5:00PM
Business Wire
NOV Inc. (NYSE: NOV) announced the retirement of Isaac Joseph,
President of Wellbore Technologies, and Kirk Shelton, President of
Completion and Production Solutions, effective December 31,
2023.
Clay Williams, Chairman, President, and CEO stated, “I would
like to thank both Isaac and Kirk for their many contributions to
NOV throughout the years. Their leadership and mentorship have had
an immeasurable positive impact on both the company and the many
people they have led throughout the years.”
In a continuation of its efforts to drive operational and
financial efficiencies, NOV will be consolidating its reporting
structure into two segments: Energy Equipment and Energy Products
and Services. The consolidation and reorientation of NOV’s
operational structure is designed to make the business more
efficient while capitalizing on the new technologies the Company is
bringing to the marketplace.
The Energy Equipment segment will consist of NOV’s longer-cycle
capital equipment businesses, including Rig Technologies,
Intervention and Stimulation Equipment, and other project-based
businesses. Energy Equipment will be led by Joe Rovig, President of
Rig Technologies.
The Energy Products and Services segment will consist of NOV’s
shorter-cycle transactional businesses, including Tuboscope pipe
coating and inspection, ReedHycalog drill bits, downhole tools and
motors, Grant Prideco drill pipe, MD Totco, and NOV Fiberglass
Solutions. Scott Livingston has been appointed to serve as the
President of Energy Supply and Services.
The reorganization and the appointments of Mr. Rovig and Mr.
Livingston will be effective January 1, 2024.
About NOV
NOV delivers technology-driven solutions to empower the global
energy industry. For more than 150 years, NOV has pioneered
innovations that enable its customers to safely produce abundant
energy while minimizing environmental impact. The energy industry
depends on NOV’s deep expertise and technology to continually
improve oilfield operations and assist in efforts to advance the
energy transition towards a more sustainable future. NOV powers the
industry that powers the world.
Visit www.nov.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20231026809715/en/
Blake McCarthy Vice President, Corporate Development and
Investor Relations (713) 815-3535 Blake.McCarthy@nov.com
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