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ION Announces Retirement Of Executive Chairman Robert P. Peebler

Stocks in this article: IO

HOUSTON, Jan. 4, 2013 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced that on December 31, 2012, Robert P. Peebler retired as Executive Chairman of its Board of Directors, and ION Board member James M. "Jay" Lapeyre, Jr. became ION's Chairman of the Board.  Mr. Peebler served as the company's President and CEO from 2003 until January 1, 2012, when R. Brian Hanson become the company's President and CEO and Mr. Peebler transitioned to Executive Chairman.  Mr. Peebler will continue to serve ION as a consultant to the company and its Board of Directors.

R. Brian Hanson, ION's President and CEO, commented, "I would like to thank Bob for his years of service and his many contributions to ION.  Bob is a true visionary.  When he joined ION (then Input/Output) in 2003, he charted a bold new course for the company.  Through his continued leadership and guidance, we have successfully executed on that strategy, transforming ION from a manufacturer of seismic equipment into a provider of integrated geophysical solutions to the global E&P industry.  His contributions to this company and the industry have been immeasurable.  We look forward to continuing to benefit from his vast knowledge and experience through his new consultant role."

Mr. Hanson added, "I am pleased to welcome Jay Lapeyre back to the role of Chairman of the Board, a position he held from 1999 until January 2012, when he assumed the role of Lead Independent Director.  Since joining our Board in 1998, when ION (then Input/Output) acquired the DigiCOURSE marine positioning business from his company, The Laitram Corporation, Jay has provided expert guidance and governance to the company.  We are thankful for his unwavering commitment to ION."

About IONION Geophysical Corporation is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings are designed to allow E&P companies to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and to enable seismic contractors to acquire geophysical data safely and efficiently. Additional information about ION is available at www.iongeo.com.



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