Weatherford Fires CEO/Chairman, CFO Interim CEO

You-are-fired.jpgWeatherford International, the fourth largest oilfield services company in the world employing some 31,000 people (down from 44,000 a year ago) and with major operations in the Marcellus/Utica region, is a company in trouble as we pointed out earlier this week (see Oilfield Srvs Co Weatherford in Financial Trouble). The company is faced with the unsavory choice of either having to do an “equity raise” (wiping out existing shareholders) or continuing to burn through the remaining cash it has and go belly up sometime next year. More earthquakes at Weatherford. On Wednesday the company fired its CEO/Chairman of the Board, Bernard Duroc-Danner, appointing the CFO as interim CEO…

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