Halliburton Co. tapped CFO Lance Loeffler to lead its Middle East North Africa (MENA) region as part of a “robust succession management process” the Houston-based oilfield service company announced on May 2.
“Lance has done a fantastic job serving as Halliburton CFO and has played an instrumental role in our company’s success and financial growth,” Halliburton chairman, president and CEO Jeff Miller commented in the press release. “It’s now time to expand his leadership development and provide him with an opportunity to strengthen his operational experience by leading our MENA region and working directly with our customers.”
Effective May 2, Loeffler, executive vice president and CFO, will assume the role of senior vice president of Halliburton’s MENA region. In conjunction, Halliburton Executive Vice President, Global Business Lines, and Chief HSE Officer Eric Carre will assume the role of CFO.
“Despite the transition in leadership, our financial strategy remains unchanged," Miller said. "Eric provides continuity as we execute on our five strategic priorities in order to deliver industry-leading returns and strong free cash flow for our shareholders.”
Carre is a proven executive leader in the Halliburton organization and was a key architect of the company’s capital efficiency strategy, according to the company release. He has an MBA in Finance from the University of Wisconsin-Madison, a master’s degree in mechanical engineering from Université Libre de Bruxelles in Belgium and brings more than 30 years of Halliburton experience to the position.
“We believe Eric’s wealth of operational experience, clear understanding of our returns-focused strategy, and strong relationship with our board of directors and executive management team will serve Halliburton well as he leads our finance organization,” Miller added.
Loeffler joined Halliburton in 2014 and served as vice president of corporate development for two years before assuming leadership of investor relations. Before joining Halliburton, he held director positions at Deutsche Bank Securities Inc. and UBS Investment Bank where he focused on the firms' oil and gas clients.
“We are excited for these dynamic leaders to take on the challenges of their new roles,” Miller continued. “Today’s announcements reflect our deep bench strength of talent, and each of these leaders represent proven strategic thinking, strong execution, and a dedicated commitment to our value proposition—to collaborate and engineer solutions to maximize asset value for our customers.”
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