Schlumberger Appoints Olivier Le Peuch as CEO
Schlumberger Limited (NYSE: SLB) announced today that its Board of Directors has appointed Olivier Le Peuch as its Chief Executive Officer and member of the Schlumberger Board, effective August 1, 2019. Mr. Le Peuch succeeds Paal Kibsgaard, who will retire as Chief Executive Officer effective that same date. Also effective August 1, Mr. Kibsgaard will step down as Chairman of the Board and retire as a member of the Board of Directors. Mr. Kibsgaard will retire after more than 22 years of service to the Company, including eight years as CEO and four years as Chairman. Effective the same date, Mark G. Papa, a current non-independent director, will become non-executive Chairman of the Board. Peter Currie will continue to serve as the Board’s Lead Independent Director.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190719005161/en/
Olivier Le Peuch is appointed Chief Executive Officer and a member of the Schlumberger Board, effective August 1, 2019. (Photo: Business Wire)
In his 32 years with the Company, Mr. Le Peuch has held a variety of global management positions, including Executive Vice President, Reservoir & Infrastructure; President of the Cameron product lines; President of Schlumberger Completions; and Vice President of Engineering, Manufacturing and Sustaining. Earlier in his career, Le Peuch was GeoMarket Manager for the North Sea and President of Software Integrated Solutions.
Mr. Kibsgaard commented, “Olivier possesses the Company’s values, an in-depth knowledge of our business, and a proven industry track record—all together, he is ideally suited to lead Schlumberger into the next chapter of our history.” Mr. Le Peuch added, “I am truly honored at being chosen to lead Schlumberger and its world-class workforce at a very exciting time in our Company’s history. I would like to thank Paal for his leadership and contributions to the Company, along with his guidance during the succession process.”
Commenting on the CEO succession, Mr. Currie said, “The Board joins me in thanking Paal for his more than 22 years of service to Schlumberger. Paal navigated the Company through the worst downturn in the history of the industry and set us on the right course to win in a different landscape. The Board owes Paal a debt of gratitude for his excellent leadership in modernizing and transforming the Company to ensure its continued future success. We wish Paal the very best as he enters a new chapter in his life.” Mr. Papa added, “The Board welcomes Olivier as Chief Executive Officer and is highly confident that Schlumberger will continue to grow and prosper under his leadership.”
Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.
Schlumberger Limited has executive offices in Paris, Houston, London and The Hague, and reported revenues of $32.82 billion in 2018. For more information, visit www.slb.com.
Simon Farrant, Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo, Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
Joao Felix, Director of Corporate Communication, Schlumberger Limited
Office +1 (713) 375-3535
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Dahua Technology Unveils Core Product Launch for 202019.1.2020 16:45:00 EET | Press release
Dahua Technology, a world leading video-centric smart IoT solution and service provider, unveils its 2020 core product launch at Intersec Dubai including the over-coax technology advancement HDCVI 6.0, AI (WizSense/WizMind) and Full-color technology which enables outstanding performance under extreme low light conditions, enabling and accelerating the AIoT transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200119005026/en/ Dahua Technology Unveils Core Product Launch for 2020 (Graphic: Business Wire) HDCVI 6.0 A longtime leader in HDCVI realm that offers great convenience, unparalleled quality and least cost, Dahua Technology launches HDCVI 6.0. Featuring 4K real-time (30fps live view), AI coding, two-way talk and enhanced AI, HDCVI 6.0 provides a superior visual experience where tiny details are captured with better clarity in a large monitoring coverage. Focused on human and vehicle, it significantly improves t
Bermuda Confirmed as a Global Leader in the Fight Against Money Laundering and the Financing of Terrorism and Proliferation18.1.2020 00:11:00 EET | Press release
Bermuda’s regulatory regime has been assessed by the Caribbean Financial Action Task Force (CFATF), and the global inter-governmental Financial Action Task Force (FATF), and confirmed for having some of the highest international standards when it comes to combatting money laundering and the financing of terrorism and proliferation. The mutual evaluation report (MER) of Bermuda’s systems and framework, published today by the CFATF, highlights the outstanding work that has been done to comply with the FATF 40 Recommendations, used by 180 governments to protect the integrity of the international financial system. Of the more than 75 MERs published to date, Bermuda ranks first against the Technical compliance requirements, with 39 of the 40 Recommendations rated as Compliant or Largely Compliant, is in the top six for overall level of effectiveness and one of only two jurisdictions with a high level of effectiveness in relation to its risk assessment and domestic coordination mechanisms. S
Moody’s Analytics Wins an Artificial Intelligence Award17.1.2020 16:00:00 EET | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the Best Financial Services AI Solution category at the 2019 Artificial Intelligence Awards. We won this award for the QUIQspread™ solution, which helps institutions automate the spreading of financial statements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200117005191/en/ Our extensive financial spreading expertise and data resources are at the heart of the QUIQspread tool, which uses machine learning to understand an institution’s financial data spreading policies. Increased accuracy, shorter processing times, and lower costs are achieved as the tool gets smarter with every spread. As a software-as-a-service platform, QUIQspread is scalable with business growth. It contains data on the financials of more than 22 million private firms, which immediately helps it to improve spreading accuracy. The QUIQspread tool easily integrates with clients’ inter
L&T Technology Services Reports a 10% Increase in Q3FY20 Net Profit17.1.2020 15:36:00 EET | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2019. Highlights for Q3FY20 include: USD Revenue at $199 million; growth of 7% YoY Revenue at Rs 14,230 million; growth of 8% YoY EBIT margin at 16.8%; up 30bps YoY Net profit at Rs 2,041 million; growth of 10% YoY During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes 2 deals having TCV of USD30mn+ each. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 4. “Q3 results were consistent with our expectations. We had a strong performance in three segments - Transportation, Plant Engineering, and Medical Devices that are each growing in excess of 20% on YoY basis. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 41% of Q3 revenues and grew by 29% YoY. We are seeing a new set of opportunities as
Schlumberger Announces Full-Year and Fourth-Quarter 2019 Results17.1.2020 14:50:00 EET | Press release
Schlumberger Limited (NYSE: SLB) today reported results for full-year 2019 and the fourth quarter of 2019. Full-Year Results (Stated in millions, except per share amounts) Twelve Months Ended Change Dec. 31, 2019 Dec. 31, 2018 Year-on-year Revenue $32,917 $32,815 0% Income (loss) before taxes - GAAP basis $(10,418 ) $2,624 n/m Pretax segment operating income* $3,978 $4,187 -5% Pretax segment operating margin* 12.1 % 12.8 % -68 bps Net income (loss) - GAAP basis $(10,137 ) $2,138 n/m Net income, excluding charges & credits* $2,054 $2,261 -9% Diluted EPS (loss per share) - GAAP basis $(7.32 ) $1.53 n/m Diluted EPS, excluding charges and credits* $1.47 $1.62 -9% Full-Year Revenue by Area North America $10,843 11,984 -10% Latin America 4,149 3,745 11% Europe/CIS/Africa 7,683 7,158 7% Middle East & Asia 10,017 9,543 5% Other 225 385 n/m $32,917 $32,815 0% North America revenue $10,843 $11,984 -10% International revenue $21,849 $20,446 7% North America revenue, excluding Cameron $8,525 $9,55
H.I.G. Capital Invests in Luxury Complex Near Venice17.1.2020 14:46:00 EET | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over $35 billion of equity capital under management, announced today that one of its affiliates has recently completed an investment in Portopiccolo, a state of the art, self-contained luxury complex near Venice which includes 203 high-end residential apartments, a five-star hotel with a spa and 110 marina berths. Terms were not disclosed. H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a focus on its target market of value-add small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “This marks our 10th real estate investment in Italy. The Italian real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure.” Gabriele Mag
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom