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Le Peuch lands top job after 32 years at Schlumberger.

Byline: ALLISTER THOMAS

Oilfield services giant Schlumberger has appointed a former North Sea boss as its new chief executive.

Olivier Le Peuch will take on the top job on August 1, replacing Paal Kibsgaard who is retiring after more than 22 years at Schlumberger and eight years as CEO.

Mr Le Peuch is current chief operating officer at the firm, having been with Schlumberger for 32 years.

He had a spell between 2008 and 2010 as vicepresident for North Sea operations, overseeing work in the UK, Ireland, Norway, Denmark, the Netherlands and offshore north-west Africa.

He has held a range of other senior positions within the company. Mr Kibsgaard said: "Olivier possesses the company's values, an in-depth knowledge of our business, and a proven industry track record - he is ideally suited to lead Schlumberger into the next chapter of our history."

Mr Kibsgaard is also being replaced as chairman by Mark Papa who will come in as non-executive chairman of the board.

Mr Le Peuch said: "I am honoured at being chosen to lead Schlumberger. I would like to thank Paal for his leadership and contributions to the company, along with his guidance during the succession process."

The appointment was announced as Schlumberger posted its second quarter results with pre-tax earnings of PS773.3m, down 12% on the same period last year at PS870.7m.

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Title Annotation:Business
Publication:The Press and Journal (Aberdeen,Scotland)
Date:Jul 20, 2019
Words:230
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