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 Appoints Peter C. Wallace As Newest Member Of Board Of Directors

HOUSTON, Oct. 22, 2013 /PRNewswire/ -- Parker Drilling (NYSE: PKD) announced the appointment on October 18, 2013 of Mr. Peter C. Wallace to the company's board of directors, increasing the board size from nine to ten. Mr. Wallace brings extensive senior leadership, product and business development, sales and marketing management, and operational experience at multinational companies operating in the oil and gas, power transmission, fluid management, and industrial manufacturing sectors. He will serve as a Class III member of the company's board of directors, with an initial term expiring at the annual meeting of stockholders to be held in 2014.  He will also serve on the board's compensation committee.



Mr. Wallace, age 59, most recently served as president and chief executive officer of Robbins & Myers, Inc., an international supplier of equipment and systems to the energy and chemicals sectors from 2004 to 2013, when the company was acquired by National Oilwell Varco. From 2001 to 2004, Mr. Wallace served as president and chief executive officer for IMI Norgren Group, a world leader in motion and fluid control technologies.  From 1998 to 2001, Mr. Wallace served as president and chief operating officer for Rexnord Corporation, a division of Invensys, plc. Prior to 1998, Mr. Wallace served in various management and senior leadership roles throughout his 25 year career with Rexnord Corporation, a leading company in the design, manufacturing, and servicing of highly engineered mechanical components used in numerous industries and end markets.

Mr. Wallace currently serves on the board of Applied Industrial Technologies, a leading North American distributor of industrial products and services. He also serves on the board of directors for Rogers Corporation, a technology leader in power electronics, advanced foams for cushioning and protective sealing, and high-frequency printed circuit materials, and is a member of that board's Compensation and Organization Committee and the chairman of its Nominating and Governance Committee.  Mr. Wallace holds an MBA from the University of Wisconsin and a Bachelor of Science in Mechanical Engineering from Cornell University.

"Peter's proven leadership along with his extensive background in industrial markets and quality assurance bring a unique and valuable perspective to the composition of our board," said Robert L. Parker Jr. chairman.  "His career spans a wide range of industries and includes years of experience in executive leadership positions for both publicly traded and privately held companies.  He is a seasoned industry professional with years of progressive growth and success that will serve our board well."

Upon his appointment, Mr. Wallace was granted 11,347 restricted stock units under the company's 2010 Long Term Incentive Plan, all of which will vest on the one-year anniversary date of the award. 

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs