Weatherford announced that Karl Blanchard, Executive Vice President and Chief Operating Officer, will assume the role of Interim Chief Executive Officer, reporting directly to the Board of Directors, until a permanent President and Chief Executive Officer has been appointed.
In addition, Christian Garcia, Executive Vice President and Chief Financial Officer, has decided to leave the Company following the filing of the Company's second quarter financial results on August 5, 2020. The Company will announce Mr. Garcia's successor at a later date.
Charles M. Sledge, on behalf of the Board, commented, "The Board has full confidence in Karl's ability to lead the Company until a permanent CEO is named. Karl is a well-respected leader in the industry and has been instrumental in transforming Weatherford's global operations since joining the Company in 2017. We thank Christian for his service to the Company and wish him well in his future pursuits."
Mr. Garcia commented, "Leaving Weatherford is a difficult personal decision. In my short tenure, I have seen the Company's potential for value creation and the strength of Weatherford's leadership team and employees. Weatherford is taking aggressive actions to address the current challenging environment, and I wish the Company well as it moves forward."
Source: Weatherford
