Halliburton CEO Dave Lesar leaves post at short notice

  • Signs for push-out forces
  • After almost 17 years on the job
  • Laud, praise and thanks for Lesar
  • Jeff Miller taking over
  • Lesar will remain as executive chairman at Halliburton
  • Lesar spoke at length and said 134 words

(exechange) — Houston, Texas, May 17, 2017 — Dave Lesar, chief executive of Halliburton, leaves the position. It is a change at short notice. As announced by Halliburton Company in a news release on Wednesday, May 17, 2017, David J. (Dave) Lesar leaves the post as Chief Executive Officer at the oil field service company after almost 17 years on the job, effective June 01, 2017.

It is the end of an era.

Lesar’s duties are taken over by Jeff Miller, currently president at Halliburton Company.

“It’s time to look forward and transition to new leadership”

The imminent management change is explained as follows. Lesar said: “As I approach my last 18 months as a Halliburton employee, it’s time to look forward and transition to new leadership.”

Lesar will remain as executive chairman at Halliburton

“Dave Lesar, who has led Halliburton as chairman and CEO since 2000, will continue serving the Company as executive chairman,” Halliburton said.

Share price decline

The change follows a decline in the share price of Halliburton Company since January 2017.

On the job as CEO since 2000

Lesar has been the Chief Executive Officer at Halliburton Company since August 2000.

Lesar joined Halliburton in 1993 and has served the Company in a variety of roles.

He has served as chairman and CEO since 2000.

He served as president and chief operating officer of Halliburton from June 1997 to August 2000, and continued as president until August 2014.

Previously he was executive vice president and CFO of Halliburton, and executive vice president of Finance and Administration for Halliburton Energy Services, a Halliburton business unit.

Lesar holds a Bachelor of Science and a Master of Business of Administration from University of Wisconsin.

He serves on the board of directors of the American Petroleum Institute.

As executive chairman, Lesar will continue to play an important leadership role focusing on the strategic direction of the Company, advising the Halliburton management team and transitioning CEO responsibilities to Miller who will then continue reporting to Lesar.

He will be actively engaged with shareholders and continue working with customers to ensure the Company is best addressing their needs.

Signs for push-out forces

It is not completely certain what forces eventually triggered Dave Lesar’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 21.2017 ($).