Frank names Douglas Stephens president and CEO
Mr. Stephens was most recently with Baker Hughes, Inc. where he was President of the global pressure pumping division and responsible for its worldwide tubular running and pressure pumping business.
Prior to Baker Hughes, Mr. Stephens held various positions of increasing responsibility for over 20 years with Schlumberger Limited, including assignments in the United States, Oman, Italy, Egypt and the United Kingdom.
Mr. Stephens has over 25 years of international and domestic oil field service experience in a wide variety of environments with companies including Schlumberger and Baker Hughes.
He started his career as a field engineer in Italy with Schlumberger and spent the first several years working in operational and front line management roles in continental Europe, the North Sea, North Africa and the Middle East.
Mr. Stephens led the Europe, Africa and CIS region before moving back to North America where he assumed a wide variety of responsibilities.
Over the span of his career he has been involved in almost all aspects of the oil field service industry, including Sales and Marketing, Product Development, Human Resource management and Executive leadership positions.
Mr. Stephens has been a leader in a wide variety of services and technologies including managing a global TRS business, and has lived in 10 different countries.
Mr. Stephens earned a degree in Applied Science in Mechanical Engineering from the University of British Columbia in Vancouver BC and is a member of the SPE, AADE and SEG. He and his family reside in Houston, Texas.
He will succeed Gary Luquette, who has served as President and CEO since January 2015.
Mr. Luquette will remain with the Company to assist in the transition until December 31, 2016.
He will also continue as a Supervisory Director until the next Annual Meeting of Shareholders in May 2017, when Mr. Stephens will be recommended to the shareholders for election to the Supervisory Board.