HOUSTON--(BUSINESS WIRE)--Apr. 1, 2009--
Halliburton (NYSE:HAL) announced today the following change to its
executive management team.
Cris Gaut, President of the Drilling and Evaluation Division, has
requested early retirement from the Company. The Compensation Committee
of the Company’s Board of Directors has approved this request and
authorized an agreement that, if not revoked by Mr. Gaut, will become
effective April 8, 2009.
"We owe Cris a great deal of gratitude as he helped lead us through
several major initiatives, namely closing the chapters in Halliburton’s
history related to asbestos litigation and the ultimate separation of
KBR from our core energy services business,” said Dave Lesar, Chairman,
President and Chief Executive Officer.
Gaut served as Halliburton's Executive Vice President and Chief
Financial Officer from March 2003 to January 2008 when he became
President of the Drilling and Evaluation Division.
“On behalf of Halliburton employees around the world, we wish Cris the
very best in his future,” added Lesar.
“We have stated our commitment to continue delivering exceptional
solutions and services to our customers as well as deliver value to our
shareholders and manage our costs given the current economic
environment,” added Lesar, “and we will take this opportunity to further
streamline our operational efficiencies.”
Following Gaut’s retirement, Tim Probert will return to the Drilling and
Evaluation Division as its President, while also retaining his
responsibilities for leading Halliburton’s technology, supply chain
management, and mergers and acquisitions activity. A 25-year industry
veteran, Probert will serve as Halliburton’s President of the Drilling
and Evaluation Division and Corporate Development.
About Halliburton
Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry. With more than 55,000
employees in approximately 70 countries, the company serves the upstream
oil and gas industry throughout the life cycle of the reservoir – from
locating hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and optimizing
production through the life of the field. Visit the company’s Web site
at www.halliburton.com.
Source: Halliburton
Halliburton
Corporate Affairs
Cathy Mann, +1-713-759-2605
cathy.mann@halliburton.com
