Oilfield service company Halliburton (HAL) on Monday announced that it has appointed Christopher Weber as executive VP and Chief Financial Officer effective June 22.
Weber joins Halliburton from Parker Drilling Company (PKD) , a global provider of drilling services and rental tools, where he served for four years as senior VP and CFO.
"We are excited to have Chris join Halliburton. He complements our strong returns-focused culture, and we believe his impressive reputation for execution and achieving results makes him the right choice to lead our financial strategy," said Jeff Miller, president and CEO of Halliburton.
"His skillset fits well with the strength of our existing Finance organization and his broad range of capabilities will complement our experienced management team as we continue to deliver industry leading returns to our shareholders," Miller added.
Shares of Halliburton closed higher on Monday.
What's Hot on TheStreet
Apple and all of tech remains in focus: European tech shares such as SAP SE (SAP) , Infineon Technologies AG (IFNNY) and ASML NV (ASML) fell sharply on Monday after last week's late Nasdaq rout. Not helping matters was a rare downgrade on Apple (AAPL) on Sunday on fears the stock may be too richly valued.
Walmart is under siege from a German rival: Aldi is coming after Walmart's (WMT) grocery market share, as the German discount retailer says it will invest $3.4 billion to expand its U.S. presence. The privately-held German grocery store said it plans to increase its store base to 2,500 by 2022. Aldi currently operates 1,600 U.S. stores.
GE's CEO is stepping aside: Industrial conglomerate General Electric (GE) said Jeffrey Immelt, chairman and CEO, plans to step down. Immelt has been with GE since 1982 and has served as chairman and CEO since September 2001. John Flannery, the current president and CEO of GE Healthcare, was named chairman and CEO. He will become CEO effective Aug. 1, and also take over the chairman role effective Jan. 1, 2018, a day after Immelt officially retires.
TheStreet reported last week that General Electric may sell additional businesses as investor Trian Partners pressured Immelt to meet aggressive performance targets.
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