Halliburton Announces Leadership Transition
May 17 2017 - 3:15PM
Business Wire
Jeff Miller named Chief Executive Officer;Dave
Lesar continues as Executive Chairman
Halliburton Company (NYSE: HAL) today announced its Board of
Directors has unanimously elected Jeff Miller, the Company’s
president and a board member, to the position of president and CEO.
Dave Lesar, who has led Halliburton as chairman and CEO since 2000,
will continue serving the Company as executive chairman. The
leadership changes are effective June 1, 2017.
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Jeff Miller, Halliburton President
(Photo: Business Wire)
“I am grateful to the Board and Dave for this opportunity to
serve Halliburton shareholders and employees,” Miller said. “I have
been fortunate to work directly with Dave for many years and to
learn from him as we execute and deliver industry-leading returns
by serving our customers and growing our revenue and margins. I
look forward to leading our organization as we continue to
collaborate and engineer solutions to maximize asset value for our
customers.”
Miller will provide the day-to-day leadership and management of
the Company. He will also be responsible for the planning and
execution of Halliburton’s strategic direction, financial
objectives, and technology development along with Halliburton's
management team who will report directly to him.
As executive chairman, Lesar will continue to play an important
leadership role focusing on the strategic direction of the Company,
advising the Halliburton management team and transitioning CEO
responsibilities to Miller who will then continue reporting to
Lesar. He will be actively engaged with shareholders and continue
working with customers to ensure the Company is best addressing
their needs. Lesar has entered into a new executive employment
agreement that provides that he will continue as executive chairman
through mandatory retirement on December 31, 2018, and contains a 4
year non-compete.
“Successful careers are about creating opportunities and value
for all constituents including shareholders, customers, and
employees, and I believe we have achieved those goals during my
time as CEO and will continue to do so in the future. As I approach
my last 18 months as a Halliburton employee, it’s time to look
forward and transition to new leadership,” said Lesar. “I have
known and worked with Jeff for almost 30 years and have great
confidence that he is the best choice to be the next Halliburton
CEO. With the support of our committed management team and the
dedication of our outstanding employees, I know he will lead
Halliburton to continue to deliver both long-term shareholder value
and superior customer service. I look forward to working closely
with him as he transitions into his new role.”
“The Board’s experience with Jeff during his management career
gives us confidence that he is a worthy successor to build upon
Dave’s legacy and will continue to provide strong returns to our
shareholders, serve our customers well and successfully lead our
employees,” said Halliburton Lead Director J. Landis Martin. “On
behalf of the Board, we thank Dave for his 17 years of outstanding
leadership and dedication as Halliburton CEO and look forward to
his continued contributions to the Company as executive chairman.
He is a visionary leader who has led Halliburton's geographic
expansion, industry leadership, market share growth and outstanding
financial performance.”
“The leadership transition plan that the Board has implemented
leverages the strength of the Halliburton executive team, provides
for a seamless transition and exemplifies the Company’s robust
succession management program,” Martin added.
Biographies:
Lesar joined Halliburton in 1993 and has served the Company in a
variety of roles. He has served as chairman and CEO since 2000. He
served as president and chief operating officer of Halliburton from
June 1997 to August 2000, and continued as president until August
2014. Previously he was executive vice president and CFO of
Halliburton, and executive vice president of Finance and
Administration for Halliburton Energy Services, a Halliburton
business unit. Lesar holds a Bachelor of Science and a Master of
Business of Administration from University of Wisconsin. He serves
on the board of directors of the American Petroleum Institute.
Miller joined Halliburton in 1997 and has since served in
several leadership roles, including chief operating officer until
2014 when he was named president and was appointed to the
Halliburton Board of Directors. Miller holds a Bachelor of Science
in agriculture and business from McNeese State University in
Louisiana, and an MBA from Texas A&M University. He is a
certified public accountant, a member of the Advisory Council for
Texas A&M University Dwight Look College of Engineering, and a
member of the board of directors for Atwood Oceanics, Inc.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
approximately 50,000 employees representing 140 nationalities, and
operations in approximately 70 countries, the company serves the
upstream oil and gas industry throughout the lifecycle of the
reservoir – from locating hydrocarbons and managing geological
data, to drilling and formation evaluation, well construction,
completion and production optimization. Visit the company’s website
at www.halliburton.com. Connect with Halliburton on Facebook,
Twitter, LinkedIn, and YouTube.
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HalliburtonFor Investors:Lance Loeffler,
281-871-2688Halliburton, Investor
RelationsInvestors@Halliburton.comorFor Media:Emily Mir,
281-871-2601Halliburton, Public RelationsPR@Halliburton.com
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