- Push-out Score suggests push-out forces
- After around 22 years in the position
- Praise, words of regret and good wishes for Taylor
- Westy Ballard taking over
(exechange) — Houston, Texas, January 29, 2018 — Robert Taylor, finance chief of Superior Energy, leaves. It is a change at short notice. As announced by Superior Energy Services, Inc. in a news release on Monday, January 29, 2018, Robert S. Taylor leaves his post as Chief Financial Officer at the oilfield services company after around 22 years in the position, effective March 1, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.9 years, according to data compiled by exechange. Only 5 percent of the CFOs who departed over the past twelve months left the position after more than 15 years.
Taylor’s duties will be taken over by Westy Ballard, currently Executive Vice President with leadership responsibilities for the Company’s global premium tubulars, completion tools and international well services businesses at Superior Energy Services, Inc.
Taylor’s move is part of a management shake-up also involving the position of Chief Accounting Officer.
No reason given
In the announcement, Superior Energy did not explicitly explain the reason for Taylor’s imminent move, leaving room for speculation.
Precise information about Taylor’s future plans was not immediately available.
Superior Energy said: “Mr. Ballard will succeed Robert S. Taylor, who is retiring after 22 years of service to the Company.”
Share price decline
The change follows a decline in the share price of Superior Energy Services, Inc. since August 2014.
Chaired by Terence E. Hall
Superior Energy Services, Inc. is chaired by Terence E. Hall.
CEO: David D. Dunlap
David D. Dunlap serves as CEO of Superior Energy Services, Inc. David Dunlap was named Chief Executive Officer of Superior Energy Services, Inc. on April 29, 2010.
In the position of CFO since 1996
Robert S. Taylor has been the Chief Financial Officer, Executive Vice President and Treasurer of Superior Energy Services, Inc. since January 1996, September 2004 and July 1999 respectively.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Robert Taylor’s imminent move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 6.2018 ($).