HOUSTON, June 24,
2022 /PRNewswire/ -- Weatherford International plc
(NASDAQ: WFRD) ("Weatherford," the
"Company," "we," "us," and "our") announced today it has been
added as a member of the broad-market Russell
3000® Index, effective after the US market opens on
June 27, 2022 as part of the 2022
Russell indexes annual reconstitution.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 6, 2022, ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell 2000® Index,
as well as the appropriate growth and value style indexes. The
Financial Times Stock Exchange Group (FTSE) Russell determines
membership for its Russell indexes primarily by objective,
market-capitalization rankings, and style attributes.
Girish Saligram, President and
Chief Executive Officer, commented, "Rejoining the Russell indexes
marks an important step for us and affirms the strong operational
performance of the last year and our efforts to strengthen the
Company's operating posture. Additionally, we believe inclusion in
the index will further drive awareness of the Company within the
broader institutional investor community as we work to build on our
successful track record of meeting the strategic and financial
goals we have set."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the "Russell Reconstitution" section
on the FTSE Russell website.
Weatherford is a leading global
energy services company. Operating in approximately 75 countries,
the Company answers the challenges of the energy industry with its
global talent network of approximately 17,000 team members and
approximately 350 operating locations, including manufacturing,
research and development, service, and training facilities.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$20 trillion is currently benchmarked
to FTSE Russell indexes. For over 30 years, leading asset owners,
asset managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Director, Investor Relations and M&A
Director, Global Communications
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SOURCE Weatherford International plc