Company Updates

Weatherford International Appoints Girish K. Saligram as New CEO

The Board of Directors of Weatherford International plc has announced that effective October 12, 2020, it will appoint Mr. Girish K. Saligram as the Company's President and Chief Executive Officer. Mr. Saligram will also serve as a member of the Company's Board of Directors. Mr. Saligram previously served as Chief Operating Officer at Exterran Corporation.

Charles M. Sledge, Chairman of the Board of Directors, commented, "We are delighted to welcome Girish as our new CEO and member of our Board. Girish is a seasoned leader with extensive international experience across multiple industries as well as a deep understanding of the oil and gas sector and is well-positioned to lead Weatherford into the future. For more than 25 years, Girish has dedicated his career to uniting technology innovation and operational excellence to deliver exceptional results that have advanced the growth strategies for some of the world's leading companies. We are confident that Girish possesses the leadership qualities, business expertise and fresh perspective that will continue to strengthen the organization and deliver long-term value for all of our shareholders."

Mr. Saligram, commented, "I am honored for the opportunity to lead Weatherford and am eager to work alongside the Board, management team and global workforce. Weatherford is a recognized industry leader for its comprehensive technology portfolio, broad global footprint, extraordinary culture and strong customer relationships. I believe these elements serve as a solid foundation for the Company to build upon. I look forward to leading Weatherford as we deliver against our strategic objectives and create our next phase of growth and market leadership."

Upon Mr. Saligram's appointment, Karl Blanchard, Interim CEO, will resume his role as Executive Vice President and Chief Operating Officer.

Mr. Sledge continues, "The Board would like to take this opportunity to thank Karl for his critical leadership during this transition period. Since joining Weatherford, Karl has been instrumental in the Company's improved financial and operational performance."

 

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