Schlumberger NV's newly-appointed Chief Executive Officer Olivier Le Peuch ...
- Schlumberger NV’s newly-appointed Chief Executive Officer Olivier Le Peuch on Wednesday outlined his vision for the world’s largest oilfield services company, vowing to exit unprofitable businesses, restructure some units and focus on returns.
Le Peuch, who replaced former CEO Paal Kibsgaard nearly two months ago, outlined plans to accelerate digital investments and to restructure and rename one of Kibsgaard’s major initiatives that invested in and ran customer oilfields. He also said the company would resize its North American onshore operations, which had grown under Kibsgaard.
“The Schlumberger of tomorrow will not be the Schlumberger of today,” Le Peuch told investors at the Barclays CEO Energy-Power Conference in New York. Improved returns will take priority over revenue growth, he said.
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