Halliburton CEO Dave Lesar Out, President Jeff Miller Promoted

Dave Lesar – Retiring CEO of Halliburton

There’s a shakeup at the top of the world’s second largest oilfield services company, Halliburton. Dave Lesar has been Halliburton’s chairman and CEO since 2000 when he replaced Dick Cheney (when Cheney was nominated to become Vice President of the United States). Lesar is retiring effective next week and being replaced by the company’s current president, Jeff Miller. The financial media is calling this “an expected move” because Lesar will reach mandatory retirement age next year. Some analysts, however, are not as kind–saying that Lesar’s botched attempt to buy Baker Hughes last year (with a resulting $3.5 billion breakup fee paid by Halliburton), and the company’s poor balance sheet over the past few years, are reasons enough to make the transition now. Halliburton, one of the largest fracking companies in the world, has major operations in the Marcellus/Utica region–hence our interest in changes at the top…

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