Weatherford Appoints New Executive Vice President, General Counsel & Corporate
ZUG, Switzerland, July 1, 2014
- Merges Legal and Compliance Groups
ZUG, Switzerland, July1, 2014 /PRNewswire/ --Weatherford International plc
(NYSE: WFT) announces the appointment of Ms. Dianne B. Ralston as Executive
Vice President, General Counsel and Corporate Secretary. Ms. Ralston joins
Weatherford with more than 20 years of combined legal, compliance, and
contractual experience in the oil and gas industry, including working for
Schlumberger in a variety of roles since 1998. Her most recent positions
with Schlumberger were of Deputy General Counsel, Corporate, as well as Deputy
General Counsel, Government Affairs and Litigation. Ms. Ralston also acted as
Director of Compliance, responsible for the development and management of
Schlumberger's global corporate Ethics and Compliance Program. Ms. Ralston
holds a B.B.A. from Texas A&M University and a Juris Doctorate from the
University of Houston School of Law. She will report directly to Mr. Bernard
J. Duroc-Danner, Chairman, President and Chief Executive Officer.
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With this appointment, Weatherford will merge the Company's legal and
compliance departments under Ms. Ralston, ensuring best practices in legal and
compliance activities while securing a more efficient and effective
organizational structure. With the resolution of Weatherford's legacy issues,
this consolidation is a natural step forward in corporate governance.
Mr. William B. Jacobson, Senior Vice President, Co-General Counsel and Chief
Compliance Officer of Weatherford, will be stepping down and leaving the
Company to pursue other opportunities. During his five year tenure at
Weatherford, Mr. Jacobson established a comprehensive best-in-class compliance
program. Mr. Alejandro Cestero, Vice President, Co-General Counsel and
Corporate Secretary of Weatherford, will also be leaving the Company effective
July 31, 2014 to pursue other opportunities. Weatherford thanks both Mr.
Jacobson and Mr. Cestero for their dedicated service, and is grateful for
their many contributions to Weatherford's progression.
Mr. Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer
commented, "The appointment of Diane Ralston completes the strengthening of
the senior executive team. Operations, Finance and now Legal functions have a
recharged senior leadership. The new leadership, together with a streamlined
and focused organization, a technology-rich portfolio with highly developed
expertise and a broad and integrated global infrastructure will drive our
steadfast direction of Core, Cost and Cash. The objective for Weatherford is
clear: de-lever and a step change in profitability. Weatherford could not
ask for a better team to deliver what our direction promises."
About Weatherford Weatherford is one of the largest multinational oilfield
service companies providing innovative solutions, technology and services to
the oil and gas industry. The Company's product and service portfolio spans
the lifecycle of the well and includes Well Construction, Formation
Evaluation, Completion and Artificial Lift. Weatherford is Irish-based,
operates in over 100 countries and currently employs approximately 60,000
people worldwide. For more information, please visit www.weatherford.com .
Contacts: Krishna Shivram +1.713.836.4610
Executive Vice President and Chief Financial
Karen David-Green +1.713.836.7430
Vice President - Investor Relations
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