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Jefferies Trims Numbers, Maintains 'Buy' on Weatherford (WFT) Following CEO Departure

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Weatherford Announces Chairman and Chief Executive Officer Departure and Appointment of Chairman of the Board and Chief Executive Officer

November 9, 2016 3:39 PM EST

BAAR, Switzerland, Nov. 9, 2016 /PRNewswire/ -- Weatherford International plc (NYSE: WFT) announces the departure of Bernard J. Duroc-Danner, Chairman of the Board, President and Chief Executive Officer effective immediately.  Mr. Robert Rayne, current Vice Chairman of the Board, will serve as Chairman of the Board.  Mr. Krishna Shivram will lead the Company as interim Chief Executive Officer, and will continue as Chief Financial Officer (CFO) until a new CFO is named in the coming days.

Management Statement

The Board is extremely grateful to Dr. Duroc-Danner for his leadership,... More