- Schlumberger (NYSE:SLB) selects COO Olivier Le Peuch to succeed Paal Kibsgaard as its new CEO effective Aug. 1 the top oilfield services provider bets on a technology expert to steer it back to its strengths in high-tech equipment.
- Kibsgaard will retire as Chairman, CEO and a board member after more than 22 years at the company, including eight years as CEO and four years as Chairman.
- Current non-independent director Mark Papa will become non-executive Chairman; Peter Currie will continue to serve as the board's lead independent director.
- Le Peuch has held a number of leadership roles since joining SLB in 1987, mostly recently as executive VP of Reservoir and Infrastructure and as COO since February 2019.