Hunting PLC Appointment of Chairman (0646P)
August 29 2017 - 1:01AM
UK Regulatory
TIDMHTG
RNS Number : 0646P
Hunting PLC
29 August 2017
29 August 2017
Hunting PLC
("Hunting" or the "Company" or the "Group")
Appointment of Chairman
Hunting PLC (LSE:HTG) is pleased to announce the appointment of
John ("Jay") Glick as non-executive Chairman of the Board with
effect from 1 September 2017.
Jay will succeed Richard Hunting who on the same date will step
down as Chairman after 26 years, but will remain on the Board as a
non-independent, non-executive Director.
The succession process has been led by John Hofmeister,
Hunting's Senior Independent Director.
Jay Glick
Jay was appointed as a non-executive Director on 2 February 2015
and has served on the Company's Audit, Nomination and Remuneration
Committees since his appointment to the Board.
Prior to joining Hunting, Jay was President and Chief Executive
Officer of Lufkin Industries Inc. from 2008 to 2013, when Lufkin
was acquired by General Electric Company. Between 1974 and 1994 Jay
held several senior management roles within Cameron International
Corporation and its predecessor companies. Jay is currently a
non-executive director of TETRA Technologies Inc., a NYSE listed
oil services company.
Jay is a US citizen and is resident in Houston, Texas, USA.
Mr Glick will also Chair the Board's Nomination Committee.
Following consultation with the Remuneration Committee, Mr
Glick's annual fee for chairing the Company and the Nomination
Committee will be GBP175,000, with effect from 1 September
2017.
Richard Hunting C.B.E.
Richard was elected an executive Director and deputy Chairman on
the formation of Hunting PLC in 1989 and has been Chairman of the
Board since 1991. In 2011, Richard moved from an executive to a
non-executive role. The Board appreciates Richard's service and
leadership over these many years.
Board Committees
Following the appointment of Mr Glick as Chairman of the Company
and the Nomination Committee, Jay will step down as a member of the
Audit and Remuneration Committees in line with UK governance
recommendations. Mr Hunting will step down as a Chairman of the
Nomination Committee and join the Audit Committee.
From 1 September 2017, Hunting's Board Committee membership will
be as follows:
Audit Committee
Annell Bay
John Hofmeister
Richard Hunting
John Nicholas (Committee Chairman)
Nomination Committee
Annell Bay
Jay Glick (Committee Chairman)
John Hofmeister
John Nicholas
Remuneration Committee
Annell Bay
John Hofmeister (Committee Chairman)
John Nicholas
Commenting on the appointment, John Hofmeister, Senior
Independent Director and non-executive Director of Hunting PLC,
said:
"The Board is delighted to announce the appointment of Jay as
non-executive Chairman of Hunting. It is a key time for Hunting
following the recent announcement of the appointment of Jim Johnson
as the Group's new Chief Executive. Jay's extensive knowledge of
the oil industry will ensure continued stability as the Group
continues on its return to growth. We are also delighted that
Richard Hunting has agreed to remain as a non-executive Director
and thank him for his 45 years of continued steadfast service."
Richard Hunting commented:
"With Jay's past experience as Chief Executive Officer of an oil
services company and his 43 years in the industry, he is an ideal
candidate to assume the role of Chairman and assist Jim as he leads
the Company through its next phase of growth."
Commenting on his appointment, Jay Glick said:
"I am delighted to be appointed as Chairman of Hunting. I
believe that we have an excellent management team and with our
market leading technology and strong stakeholder relationships, I
am very confident that we are capable of delivering successful
performance and growth in the future."
For further information please contact:
Hunting PLC Tel: +44 (0) 20 7321 0123
John Hofmeister, Senior
Independent Director
Ben Willey, Company Secretary
Tarryn Riley, Investor
Relations
Buchanan Tel: +44 (0) 20 7466 5000
Richard Darby
Chris Judd
Madeleine Seacombe
Notes to Editors:
About Hunting PLC
Hunting PLC is an international energy services provider to the
world's leading upstream oil and gas companies. Established in
1874, it is a premium listed public company traded on the London
Stock Exchange. The Company maintains a corporate office in Houston
and is headquartered in London. As well as the United Kingdom, the
Company has operations in Canada, China, Indonesia, Kenya, Mexico,
Netherlands, Norway, Saudi Arabia, Singapore, South Africa, United
Arab Emirates and the United States of America.
Hunting PLC's Legal Entity Identifier is
2138008S5FL78ITZRN66
This information is provided by RNS
The company news service from the London Stock Exchange
END
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