Schlumberger CFO to step down

Oilfield services provider Schlumberger has informed that Simon Ayat, Executive Vice President and Chief Financial Officer, will step down from this position effective January 22, 2020, after 12 years in the role. 

Ayat, who joined the company in 1982, will remain with Schlumberger as Senior Strategic Advisor to the company’s Chief Executive Officer for a period of two years.

Schlumberger CEO, Olivier Le Peuch, commented, “On behalf of the company and its board of directors, I would like to take this opportunity to congratulate Simon for his unique career and critical contributions as Chief Financial Officer over the last 12 years, and I look forward to his continuing advice and support.”

Schlumberger said that Ayat would be replaced by Stephane Biguet as the company’s Executive Vice President and Chief Financial Officer. In a 24-year career with Schlumberger, Biguet has held senior positions in finance and operations at the field and headquarters levels. Prior to his current assignment he held the position of Vice President, Finance of Schlumberger.

Olivier Le Peuch commented, “Stephane brings an in-depth knowledge of the financial function, has developed a close relationship with the executive leadership team and has critically contributed to the new Performance strategy, leading in particular the capital stewardship program.”

This is the second major executive change for Schlumberger in less than a year. The company’s former CEO, Paal Kibsgaard, left the role at the beginning of August 2019. Kibsgaard was replaced by Olivier Le Peuch and in turn he took the role of Borr Drilling chairman last October.

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