Dril-Quip Inc. announced that Raj Kumar, vice president and CFO, resigned from his position with Dril-Quip “to take another opportunity,” an Oct. 1 release said.

In the release, Dril-Quip said it had engaged an executive search firm to conduct a search for its next CFO. Kumar, whose resignation with Dril-Quip takes effect Nov. 1, will assist in a smooth transition of his duties, according to the release from the Houston-based company.

In a statement commenting on Kumar’s departure, Dril-Quip CEO Blake DeBerry said: “I appreciate Raj’s involvement in all of our recent successful transformation efforts, and on behalf of the board and executive team, I want to thank him for his service and contributions to Dril-Quip. We wish him all the best in his future endeavors.” 

Kumar was appointed vice president and CFO of Dril-Quip in May 2020, prior to which he was vice president of finance and chief accounting officer since February 2019. Previously, he had served as vice president and treasurer since joining Dril-Quip in June 2017.

“We have a strong finance team in place, and I am confident that they will continue driving our financial functions until our next chief financial officer is appointed,” DeBerry added.

In September, Dril-Quip also announced plans for DeBerry to step down by year-end with the appointment by the company board of Jeffrey J. Bird as its president and CEO, effective Jan. 1. Bird, who joined Dril-Quip in 2017 as CFO, currently serves as the company’s president and COO.