HOUSTON--(BUSINESS WIRE)--Dec. 4, 2014--
Halliburton Company (NYSE:HAL) today announced its Board of Directors
has appointed Executive Vice President and Chief Financial Officer Mark
McCollum to the new role of Executive Vice President and Chief
Integration Officer. In this capacity, he will serve as head of the
Joint Integration Team that Halliburton and Baker Hughes Incorporated
(NYSE:BHI) are assembling in connection with Halliburton’s pending
acquisition of Baker Hughes. Mr. McCollum will continue reporting to
Dave Lesar, Chairman and Chief Executive Officer of Halliburton, and
will remain a member of the company’s Executive Committee.
Christian Garcia, Senior Vice President and Chief Accounting Officer,
will become Senior Vice President of Finance and assume Mr. McCollum’s
CFO responsibilities on an interim basis. It is anticipated that Mr.
McCollum will resume his CFO duties at the conclusion of the two
companies’ integration. Mr. Garcia will report to Mr. Lesar and will
join Halliburton’s Executive Committee. Charlie Geer, currently Vice
President of Finance, will become Vice President and Corporate
Controller and will take over Mr. Garcia’s accounting responsibilities
on an interim basis as well. He will continue reporting to Mr. Garcia.
The new roles are effective January 1, 2015.
Belgacem Chariag, President of Global Products and Services for Baker
Hughes, will serve as lead for Baker Hughes on the Joint Integration
Team.
“Establishing a unified integration team under the direction of Mark and
Belgacem is an important first step in bringing together the talent and
expertise of both companies to make a stronger combined company,” said
Mr. Lesar. “We are committed to putting together a detailed and
thoughtful integration plan to make the post-closing transition as
seamless, efficient and productive as possible.”
On Nov. 17, Halliburton and Baker Hughes jointly announced a definitive
agreement under which Halliburton will, subject to the conditions set
forth in the agreement, acquire Baker Hughes in a stock and cash
transaction.
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 80,000
employees, representing 140 nationalities in over 80 countries, the
company serves the upstream oil and gas industry throughout the
lifecycle 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 website at www.halliburton.com.
Connect with Halliburton on Facebook,
Twitter,
LinkedIn,
Oilpro,
and YouTube.
Forward-Looking Statements
The statements in this press release that are not historical statements,
including statements regarding the expected completion of the proposed
transaction, integration of the two companies, and the strength of the
combined company, are forward-looking statements within the meaning of
the federal securities laws. These statements are subject to numerous
risks and uncertainties, many of which are beyond Halliburton’s control,
which could cause actual results to differ materially from the results
expressed or implied by the statements. These risks and uncertainties
include, but are not limited to: failure to obtain the required votes of
Halliburton’s or Baker Hughes’ stockholders; the timing to consummate
the proposed transaction; the conditions to closing of the proposed
transaction may not be satisfied or the closing of the proposed
transaction otherwise does not occur; the risk a regulatory approval
that may be required for the proposed transaction is not obtained or is
obtained subject to conditions that are not anticipated; the diversion
of management time on transaction-related issues; the ultimate timing,
outcome and results of integrating the operations of Halliburton and
Baker Hughes and the ultimate outcome of Halliburton’s operating
efficiencies applied to Baker Hughes’ products and services; the effects
of the business combination of Halliburton and Baker Hughes, including
the combined company’s future financial condition, results of
operations, strategy and plans; expected synergies and other benefits
from the proposed transaction and the ability of Halliburton to realize
such synergies and other benefits; expectations regarding regulatory
approval of the transaction; results of litigation, settlements, and
investigations; and other risks and uncertainties described in
Halliburton’s and Baker Hughes’ respective reports on Form 10-K for the
year ended December 31, 2013, Form 10-Q for the quarter ended September
30, 2014, recent Current Reports on Form 8-K, and other U.S. Securities
and Exchange Commission (the “SEC”) filings. These filings also discuss
some important risk factors that may affect Halliburton’s and Baker
Hughes’ respective businesses, results of operations and financial
condition. Halliburton and Baker Hughes undertake no obligation to
revise or update publicly any forward-looking statements for any reason.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
Additional Information
This communication does not constitute an offer to buy or sell or the
solicitation of an offer to buy or sell any securities or a solicitation
of any vote or approval. This communication relates to a proposed
business combination between Halliburton and Baker Hughes. In connection
with this proposed business combination, Halliburton and/or Baker Hughes
may file one or more proxy statements, registration statements, proxy
statement/prospectus or other documents with the SEC. This communication
is not a substitute for any proxy statement, registration statement,
proxy statement/prospectus or other document Halliburton and/or Baker
Hughes may file with the SEC in connection with the proposed
transaction. INVESTORS AND SECURITY HOLDERS OF HALLIBURTON AND BAKER
HUGHES ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION
STATEMENT(S), PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE
FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Any
definitive proxy statement(s) (if and when available) will be mailed to
stockholders of Halliburton and/or Baker Hughes, as applicable.
Investors and security holders will be able to obtain free copies of
these documents (if and when available) and other documents filed with
the SEC by Halliburton and/or Baker Hughes through the website
maintained by the SEC at http://www.sec.gov.
Copies of the documents filed with the SEC by Halliburton will be
available free of charge on Halliburton’s internet website at http://www.halliburton.com
or by contacting Halliburton’s Investor Relations Department by email at investors@Halliburton.com
or by phone at +1-281-871-2688. Copies of the documents filed with the
SEC by Baker Hughes will be available free of charge on Baker Hughes’
internet website at http://www.bakerhughes.com
or by contacting Baker Hughes’ Investor Relations Department by email at trey.clark@bakerhughes.com
or alondra.oteyza@bakerhughes.com
or by phone at +1-713-439-8039 or +1-713-439-8822.
Participants in Solicitation
Halliburton, Baker Hughes, their respective directors and certain of
their respective executive officers may be considered participants in
the solicitation of proxies in connection with the proposed transaction.
Information about the directors and executive officers of Halliburton is
set forth in its Annual Report on Form 10-K for the year ended December
31, 2013, which was filed with the SEC on February 7, 2014, its proxy
statement for its 2014 annual meeting of stockholders, which was filed
with the SEC on April 8, 2014, its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2014, which was filed with the SEC on
October 24, 2014, and its Current Report on Form 8-K filed with the SEC
on July 21, 2014. Information about the directors and executive officers
of Baker Hughes is set forth in its Annual Report on Form 10-K for the
year ended December 31, 2013, which was filed with the SEC on February
12, 2014, its proxy statement for its 2014 annual meeting of
stockholders, which was filed with the SEC on March 5, 2014, its
Quarterly Report on Form 10-Q for the quarter ended September 30, 2014,
which was filed with the SEC on October 21, 2014, and its Current
Reports on Form 8-K filed with the SEC on June 10, 2014 and September
10, 2014. These documents can be obtained free of charge from the
sources indicated above. Additional information regarding the
participants in the proxy solicitations and a description of their
direct and indirect interests, by security holdings or otherwise, will
be contained in the proxy statement/prospectus and other relevant
materials to be filed with the SEC when they become available.
Source: Halliburton Company
For Investors:
Kelly Youngblood, 281-871-2688
Halliburton,
Investor Relations
Investors@Halliburton.com
or
For
Media:
Emily Mir, 281-871-2601
Halliburton, Public
Relations
PR@Halliburton.com
