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Schlumberger Names Olivier Le Peuch As New CEO - Quick Facts

Schlumberger Ltd. (SLB) announced Friday that its Board of Directors has appointed Olivier Le Peuch as its Chief Executive Officer and member of its Board, effective August 1, 2019.

Le Peuch succeeds Paal Kibsgaard, who will retire as CEO effective that same date. Kibsgaard will also step down as Chairman of the Board and retire as a member of the Board of Directors, effective August 1.

Kibsgaard retires from the company retire after more than 22 years of service to the Company, including eight years as CEO and four years as Chairman.

Effective August 1, Mark Papa, a current non-independent director, will become non-executive Chairman of the Board. Peter Currie will continue to serve as the Board's Lead Independent Director.

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