The chief financial officer (CFO) of oilfield services giant Weatherford will leave the company at the end of July.
Weatherford said H. Keith Jennings will step down from his role effective July 31, though it is “not the result of any dispute or disagreement regarding the Company’s accounting or financial practices, statements, conditions, or operations”.
A search has now started to find a new CFO, Weatherford has not disclosed his reasons for leaving.
Mr Jennings said: “Since joining the Company, I have witnessed the start of a powerful turnaround, which is evidenced by our financial performance.
“I have confidence in the direction of the Company and leadership, and our global team’s abilities to continue building the new Weatherford and will be cheering them on as they move forward.”
Mr Jennings joined Weatherford as CFO in 2020, having previously held senior roles at Calumet Specialty Products Partners, Eastman Chemical Company and Cameron.
CEO Girish Saligram said: “Keith’s commitment and leadership to the Company over the past two years helped Weatherford return to a major public exchange, improved and stabilized the capital structure while also making significant contributions to strengthen the Company’s operating profile.
“I want to personally thank Keith for his dedication and partnership on this journey and wish him the very best. As demonstrated by our first quarter 2022 results, our operating performance continues to improve, and the Company has a bright future ahead.”