Step forward for Halliburton, Baker Hughes integration

Halliburton’s Board of Directors has appointed Executive Vice President and Chief Financial Officer Mark McCollum to the new role of Executive Vice President and Chief Integration Officer.

In this capacity, he will serve as head of the Joint Integration Team that Halliburton and Baker Hughes Incorporated are assembling in connection with Halliburton’s pending acquisition of Baker Hughes. McCollum will continue reporting to Dave Lesar, Chairman and Chief Executive Officer of Halliburton, and will remain a member of the company’s Executive Committee.

“Establishing a unified integration team under the direction of Mark and Belgacem is an important first step in bringing together the talent and expertise of both companies to make a stronger combined company”

Christian Garcia, Senior Vice President and Chief Accounting Officer, will become Senior Vice President of Finance and assume McCollum’s CFO responsibilities on an interim basis.

According to Halliburton, McCollum will resume his CFO duties at the conclusion of the two companies’ integration.

As for Garcia, he  will report to Lesar and will join Halliburton’s Executive Committee. Charlie Geer, currently Vice President of Finance, will become Vice President and Corporate Controller and will take over Garcia’s accounting responsibilities on an interim basis as well. He will continue reporting to Garcia. The new roles are effective January 1, 2015.

Belgacem Chariag, President of Global Products and Services for Baker Hughes, will serve as lead for Baker Hughes on the Joint Integration Team.

“Establishing a unified integration team under the direction of Mark and Belgacem is an important first step in bringing together the talent and expertise of both companies to make a stronger combined company,” said Lesar. “We are committed to putting together a detailed and thoughtful integration plan to make the post-closing transition as seamless, efficient and productive as possible.”

On Nov. 17, Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton will, subject to the conditions set forth in the agreement, acquire Baker Hughes in a stock and cash transaction.