Halliburton CEO to Retire, Replaced by Miller
Halliburton Co said on Wednesday that Chief Executive Officer Dave Lesar will retire on June 1 and be replaced by Jeff Miller, Lesar's longtime deputy and fellow board member. Lesar will stay on as executive chairman of the world's second-largest oilfield service provider until December 2018, when he reaches the company's mandatory retirement age of 65. The transition, which was expected, comes as Halliburton tries to recover from a two-year oil price downturn that has eroded profit margins and forced the company to lay off thousands of workers.
Carlos Slim, Dick Cheney Invest in US Energy Data Company
Mexican billionaire Carlos Slim and former U.S. Vice President Dick Cheney have invested in Texas-based oil and gas software developer WellAware, the company said in a statement on Wednesday. WellAware's software allows oil and gas companies to track wells and pipelines remotely and collates data for making forecasts. Cheney, who is already a WellAware board member, and Slim, who led the $37 million funding round along with Activant Capital Group, have invested in the company alongside Ed Whitacre, the former AT&T and General Motors chief who is also a board member.
