Schlumberger Ltd. (SLB) said Chairman Andrew Gould would retire
from the chief-executive post at the beginning of August, succeeded
by Chief Operating Officer Paal Kibsgaard.
Gould joined the global oil-field-services company in 1975 in
the internal audit department in Paris and took the top jobs in
early 2003 after holding a number of executive positions. He will
continue to serve as chairman until the company's annual
shareholder meeting in April, when Schlumberger plans to appoint
independent lead director Tony Isaac as his successor.
Kibsgaard has been with the company for more than 14 years,
holding operational and management jobs in the Middle East, Europe
and the U.S. He was named operating chief in early 2010.
The company has predicted demand will continue to grow because
of a continuing rebound in North America and increased deep-water
exploration activity as producers seek to replace oil supplies lost
in North Africa's political unrest. Schlumberger is expected to
report its latest quarterly results Friday.
Shares were up 0.1% to $88.51 in premarket trading.
-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com