Amazing credentials for the new CFO.
On June 5, 2007, the Company announced that it has engaged Eugene L. Butler to serve as its new Chief Financial Officer. Mr. Butler will also fill a vacancy on the Board of Directors
Mr. Butler served in various capacities as a Director, President, CEO, CFO and COO of Weatherford International, Inc., a $2 billion multinational service and equipment corporation serving the worldwide energy market, from 1974 to 1991. He was elected to the Board of Directors of Weatherford in May 1978, elected President and COO in 1979, and President and CEO in 1984. He successfully developed and implemented a turnaround strategy eliminating debt and returning the company to profitability during a severe energy recession. As well, he expanded operations into international markets allowing Weatherford to become the world leader in the company’s products and services lines.
Prior to joining Weatherford International in 1974, Mr. Butler, a Certified Public Accountant, was an Audit Manager with Arthur Andersen & Co. in Houston. Since leaving Weatherford in 1991, Mr. Butler has been involved in numerous financial packaging, debt restructuring, acquisition and capital raising transactions, as agent and principal.