Oil and gas firm Schlumberger names Olivier Le Peuch as CEO
Le Peuch to take over as CEO and member of Schlumberger's board on 1 August, with Paal Kibsgaard exiting on the same day
Oil and gas company Schlumberger has appointed Olivier Le Peuch as its chief executive officer and member of its board, effective 1 August, 2019, with Paal Kibsgaard expected to step down as CEO and chairman of the Schlumberger board on the same day.
Mark G Papa, currently a non-independent director for the firm, will become non-executive chairman of the board on the same day, with Peter Currie continuing to serve as the Schlumberger board’s lead independent director.
Le Peuch has spent 32 years in various roles at Schlumberger, including as executive vice president of reservoir and infrastructure; president of the Cameron product lines and of Schlumberger completions; and vice president of engineering, manufacturing, and sustaining.
Commenting on his appointment, outgoing CEO, Kibsgaard, said: “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.”
Le Peuch added: “I am truly honoured 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.”