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.
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