SLB Schlumberger Ltd

By Colin Kellaher

Schlumberger Ltd. (SLB) on Tuesday said Simon Ayat will step down as executive vice president and chief financial officer, effective Jan. 22.

The Houston oilfield-services company said Stephane Biguet, currently vice president of finance, will succeed Mr. Ayat as executive vice president and chief financial officer.

Schlumberger said Mr. Ayat, who joined the company in 1982, will remain as senior strategic adviser to the chief executive for two years.

Mr. Biguet, 51 years old, will receive an annual base salary of $770,000, the company said in a filing with the Securities and Exchange Commission. Mr. Ayat will receive an annual salary of $1 million.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 10, 2019 09:26 ET (14:26 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.