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Weatherford (NYSE:WFT) Appoints New CEO From Halliburton

Weatherford International PLC

Weatherford International PLC (NYSE:WFT) appointed a new CEO, Mark McCollum, only four months after the sudden departure of Bernard Duroc-Danner the previous CEO. The new CEO comes from a C-level executive in Halliburton Company (NYSE:HAL)

Appointment roles

McCollum was the Chief Finance Office in Halliburton. He is expected to report with immediate effect to his new work station preferably by late April. He is also joining as executive vice president and CFO late last year will step in until McCollum reports to Weatherford.

Weatherford sentiments about Mark

Weatherford welcomed Mark recognizing his vast experience which will be of great use to the company towards achieving its primary goals. The company is driven by the need to achieve sustainable free cashflow, improved financial flexibility and eventually high returns. Its commitment to its overall goals and achieving them through getting back to the roots, debt reduction and non-disposition of core assets. They aim at serving the community with top notch quality services.

Mark’s partners in the industry

Dave Leser, Halliburton CEO recognized McCollum for his great input in Halliburton. He left a legacy of a great leadership team in Halliburton that will continue to inspire the financial functions in the company. McCollum and Voyles have worked together for more than 15 years both at Halliburton and at Bakers Botts. He has worked with Beaty typically her entire career life. Leaser gave them his vote of confidence in their leadership skills especially in the finance department.

Career history

McCollum assumed the CFO position in Halliburton in 2008. he has more than 36 years’ experience in the energy industry. He was appointed as the chief integration office in Halliburton wanted to acquire Baker Hughes Inc. (NYSE:BHI). Unfortunately the deal did not go through. He later resumed the CFO position in July. Before joining Baker, McCollum was at Tenneco Inc. and Arthur Andersen’s where his career journey took off.

Published by Neha Gupta

Swati has worked in diverse capacities from financial research to currency trading in a span of 3 years.

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