Halliburton CFO jumps ship to head Weatherford

Halliburton Chief Financial Officer (CFO) Mark McCollum has decided to leave the company and take up the chief executive officer (CEO) position at the oil services company Weatherford International.

McCollum will join Weatherford effective immediately and will assume the roles of the company’s President, CEO, and board member with an effective start date in late April 2017.

As a result of this new appointment, Krishna Shivram will be departing as the Weatherford interim CEO effective immediately while Christoph Bausch, the Executive VP and CFO will serve as acting CEO until McCollum assumes his role in a permanent capacity.

As a result of McCollum’s departure from Halliburton, the company’s Executive Vice President and General Counsel, Robb L. Voyles, has been named interim CFO and will manage the CFO responsibilities in addition to his current responsibilities until a replacement is found.

Also, Halliburton promoted Lyn Beaty to the position of senior vice president of Finance while Weatherford named William Macaulay as the Chairman of the Board of Directors, both effective immediately.

Dave Lesar, Chairman and CEO of Halliburton, said: “We are pleased that Robb has agreed to serve as interim CFO during this important time and believe Lyn’s well-deserved promotion will provide additional leadership to the Finance organization and ensure a seamless transition as we secure a new CFO.

“On behalf of the Halliburton Board of Directors and our management team, we thank Mark for his financial leadership and contributions to Halliburton. We built a strong team under Mark that will continue driving our financial functions.

“Having worked with Robb for almost 15 years at both Halliburton and Baker Botts and with Lyn for her entire career, I am confident in their ability to lead our high-performing Finance group.”

Voyles joined the Houston-based oilfield service provider in 2013 and is a member of the Halliburton Executive Committee. Before joining Halliburton, he was a senior partner at Baker Botts where he served as chair of the Litigation Department and a member of the Executive Committee.

Beaty’s career with the company began in the Finance department and had spanned more than 30 years. She held numerous increasingly responsible Finance positions in the company.

Regarding¬†his appointment at Weatherford, McCollum said: “I am excited to join the company at such an important time. Weatherford is an excellent company with great people, technology and global reach. I look forward to working with the team to build a stronger and healthier Weatherford with a clear purpose and vision for the future.”