This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Parker Drilling Selects Gary Rich As President And Chief Executive Officer

HOUSTON, Sept. 24, 2012 /PRNewswire/ -- Parker Drilling (NYSE: PKD) announced today that its Board of Directors has selected Gary Rich as president and chief executive officer, effective October 1, 2012.  Mr. Rich will also serve as a member of Parker Drilling's board of directors.



Mr. Rich brings a wealth of international and domestic industry leadership experience to Parker, including a 25-year career with Baker Hughes Incorporated where he successfully managed several of the company's businesses, regions and initiatives.  Over his career he has held a progressive series of roles across a broad spectrum of focus areas including:
  • Global sales, strategic marketing and business development;
  • New technology and product innovation, and commercialization strategies;
  • Operations, finance and business management; and
  • Leadership development and succession planning.

Most recently, Mr. Rich served as vice president of global sales for Baker Hughes, and prior to this role, he served as president of that company's European operations.  Previously, Mr. Rich was president of Hughes Christensen Company (HCC), a division of Baker Hughes primarily focused on the production and distribution of drilling bits for the petroleum industry.  As president of HCC, Mr. Rich developed a dynamic business strategy that successfully positioned the company to enter new market segments and geographical regions.  Under his direction, HCC delivered significant revenue growth and further strengthened its market leadership position despite a highly competitive environment. 

"Gary has proven success in developing and implementing growth strategies that deliver sustainable results and value," said Rob McKee, presiding director of the Parker Drilling board.  "He has experience in nearly every aspect of the oil and gas business and a keen understanding of the evolving needs of the drilling service marketplace. We are confident that Gary is the right leader to strengthen Parker's position as a great drilling, rental tool, and technology source for the oil and gas industry.  We are excited to welcome him to the Parker team."

Mr. Rich assumes the president and chief executive officer role from Robert L. Parker Jr., who will remain executive chairman of Parker Drilling. 

"When you look at Gary's record of achievement, the first thing you'll note is he has wins in a wide range of areas," Mr. Parker commented.  "While his technical, commercial, and operational accomplishments are impressive, I believe much of Gary's success is driven by his strong leadership and communications skills.  He will strengthen our ability to align innovation and collaboration with performance and consistent results for our stakeholders."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs