Schlumberger Announces Management Succession
The Board of Directors of Schlumberger Limited (NYSE:SLB) announced
today that Andrew Gould, Chairman and Chief Executive Officer of
Schlumberger Limited will retire as Chief Executive Officer effective
August 1st 2011. Mr. Gould will continue to serve as Chairman
of the Board until the annual general meeting of the company′s
stockholders in April 2012. It is the Board′s intention that its
directors will select the current independent lead director, Tony Isaac,
to be the new non-executive Chairman upon Mr. Gould′s departure.
Andrew Gould will be succeeded as Chief Executive Officer by Paal
Kibsgaard, Chief Operating Officer of Schlumberger Limited. During more
than 14 years of employment with the company, Mr. Kibsgaard has held
operational and management responsibility in the Middle East, Europe and
the U.S., and has been involved in all aspects of the company′s
operations. Prior to his appointment as Chief Operating Officer, Mr.
Kibsgaard served as President of the Reservoir Characterization Group
after assignments as Vice President, Engineering, Manufacturing and
Sustaining; and Vice President of Personnel following a series of
earlier international positions.
Commenting on the move, Tony Isaac, the current independent lead
director of the Schlumberger Board remarked, 'The Board joins me in
thanking Andrew for his 36 years of service to Schlumberger and
appreciates the significant contributions he has made in driving the
company′s strong business results during his tenure as Chief Executive
Officer. Mr. Isaac continued, 'The Board welcomes Paal Kibsgaard as
Chief Executive Officer, and is highly confident that Schlumberger will
continue to grow and prosper under his leadership.?
Kibsgaard has served as Chief Operating Officer since February 2010, and
as a member of the Schlumberger Limited Board since April 2011.
About Schlumberger
Schlumberger is the world′s leading supplier of technology, integrated
project management and information solutions to customers working in the
oil and gas industry worldwide. Employing approximately 110,000 people
representing over 140 nationalities and working in approximately 80
countries, Schlumberger provides the industry′s widest range of products
and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The
Hague and reported revenues of $27.45 billion in 2010. For more
information, visit www.slb.com.
Schlumberger
Malcolm Theobald, +1-713-375-3535
Vice President
of Investor Relations
investor-relations@slb.com
Stephen
Whittaker, + 33 1 4062 1308
Director of Corporate Communications
swhittaker@slb.com
