HOUSTON--(BUSINESS WIRE)--Apr. 21, 2015--
National Oilwell Varco, Inc. (NYSE:NOV) today announced that Jeremy D.
Thigpen has informed the Company of his resignation as Senior Vice
President and Chief Financial Officer, in order to become Chief
Executive Officer of Transocean, one of NOV’s largest customers. Scott
K. Duff, NOV’s Vice President and Chief Accounting Officer has been
named as Interim Chief Financial Officer, effective immediately.
Mr. Thigpen has been serving as the Company’s Chief Financial Officer
since 2012, and is resigning to become Chief Executive Officer of
Transocean. Mr. Thigpen has served as the Company’s President – Downhole
Pumping and Solutions from 2007 to 2012. Prior to that, Mr. Thigpen was
the President of the Company’s Downhole Tools group from 2003 until
2007. Mr. Thigpen has been with National Oilwell Varco for 18 years,
holding various positions during his career.
Clay Williams, Chairman, President and CEO of National Oilwell Varco,
remarked, “In his 18 years with NOV, it has been a pleasure to work with
Jeremy both as CFO and for many years before that. Jeremy has always
performed at the highest level and been a great credit to National
Oilwell Varco. We are disappointed to lose Jeremy and his contributions
to NOV’s success. We are excited that Jeremy will be leading a great
company and longstanding NOV customer at Transocean Ltd., and we look
forward to continuing our relationship with him in his new role.”
National Oilwell Varco will conduct a search to identify a new Chief
Financial Officer. In the interim period, Scott Duff will continue as
Chief Accounting Officer and has stepped in to serve as Chief Financial
Officer until the search is completed. Mr. Duff holds a BBA in
Accounting from the University of Texas at San Antonio and is a
Certified Public Accountant. He held accounting positions at KPMG, Ernst
& Young, and SBC before joining National-Oilwell in 2004. Mr. Duff has
served as National Oilwell Varco’s Vice President and Chief Accounting
Officer since 2014 and had previously served as the Company’s Vice
President of Internal Audit since 2005.
Greg L. Armstrong, Lead Director for NOV’s Board of Directors commented,
“Jeremy Thigpen has been a tremendous contributor to the NOV team for
many years. We appreciate his service and believe he will continue to
have great success at Transocean. The Board has worked with Scott Duff
during his more than 10 years at the Company and we have great
confidence that he will serve very capably as interim CFO.”
National Oilwell Varco is a worldwide leader in the design, manufacture
and sale of equipment and components used in oil and gas drilling and
production operations, and the provision of oilfield services to the
upstream oil and gas industry.
Statements made in this press release that are forward-looking in nature
are intended to be “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934 and may involve risks
and uncertainties. These statements may differ materially from the
actual future events or results. Readers are referred to documents filed
by National Oilwell Varco with the Securities and Exchange Commission,
including the Annual Report on Form 10-K, which identify significant
risk factors which could cause actual results to differ from those
contained in the forward-looking statements.
Source: National Oilwell Varco, Inc.
National Oilwell Varco, Inc.
Loren Singletary,
713-346-7807
