Weatherford elects new CFO and regional president

Oil services company Weatherford has appointed a new chief financial officer (CFO) and a President for regional operations, both effective December 13.

Weatherford said on Thursday that Christoph Bausch was named the company’s new Executive Vice President and Chief Financial Officer.

Bausch joined the company in May of 2016 as Vice President and Controller of Product Lines after he retired from the position of CFO in oil services company Archer.

Before his role at Archer, Bausch served as a Global Finance Director of Transocean, after having a 20-year international career with Schlumberger, where he held senior financial positions in global and regional capacities in the U.S., the U.A.E., France, Mexico, Venezuela, and Germany.

Also, Frederico Justus was promoted to the position of President of Regional Operations. He joined Weatherford in 2010 and, since May 2015, was Vice President of the Middle East and Africa region. He has over 19 years of oilfield experience across the entire services industry, which includes managing multiple environments and product lines spanning several countries. His appointment comes as Weatherford’s current President of Regional Operations, Antony J. Branch, is leaving the company.

Both Bausch and Justus will report directly to Chief Executive Officer Krishna Shivram who has been serving as the CEO on an interim basis since former Chairman, President, and CEO of the company, Bernard Duroc-Danner, left Weatherford in November after 30 years of service.

Shivram said: “Christoph’s previous experience as a public company CFO, his financial expertise, depth of knowledge in the oil and gas industry as well as leadership capabilities will further help strengthen our focus on financial discipline, cash flow generation, and improved cost efficiencies.

“We are confident that Frederico, in his new role of President of Regional Operations, with his successful track record and many years of direct hands-on experience will have a positive impact and help us reach our objectives and build a stronger company.”

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