HOUSTON, July 15, 2019 /PRNewswire/ -- Parker Drilling
Company (NYSE: PKD) ("Parker" or the "Company") today announced
that Gary Rich has decided to retire
from his roles as President, Chief Executive Officer, and Director
of Parker Drilling later this year.
Rich plans to remain in his current roles for an interim period to
support a smooth transition. The Board of Directors will engage a
search firm to conduct a comprehensive search for a permanent
successor.
Parker Drilling Chairman
Eugene Davis noted, "Parker Drilling owes a tremendous debt of
gratitude to Gary Rich, who oversaw
a disciplined strategy to refocus the Company and maintain a strong
reputation for reliability, innovation and efficiency amid one of
the most challenging markets in the Company's history. Gary led the
Company through the industry downturn and successfully worked
closely with several stakeholders to put the Company on the right
path for the future."
President and CEO Gary Rich
stated, "It has been one of my greatest honors to work with the
talented and hardworking team at Parker. Together we have offered
some of the industry's most innovative solutions and solved some of
our clients' toughest challenges, despite a difficult industry
environment. I am proud of this work and look forward to watching
what this great team can accomplish going forward."
Davis continued, "We wish Gary well in his future endeavors, and
thank him for leading the Company over the past seven years and for
assisting with the transition to new leadership. With a solid
financial foundation, we look forward to pursuing opportunities for
profitable growth while maintaining a strict focus on capital
returns as we enter the next chapter in Parker's history."
About Parker Drilling
Parker Drilling provides drilling
services and rental tools to the energy industry. The Company's
Drilling Services business serves operators through the use of
Parker-owned and customer-owned rig fleets in select U.S. and
international markets, specializing in remote and harsh environment
regions. The Company's Rental Tools Services business supplies
premium equipment and well services to operators on land and
offshore in the U.S. and international markets. More information
about Parker Drilling can be found
on the Company's website at www.parkerdrilling.com.
Contact:
Nick Henley
Director, Investor Relations
(+1) (281) 406-2082
nick.henley@parkerdrilling.com
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SOURCE Parker Drilling Company