Noble Corp. reported that Richard Barker will replace Stephen M. Butz as Chief Financial Officer of the company, following Butz's decision to step down to pursue other opportunities. Barker will begin his new role on March 30, 2020.
The former CFO made the decision to leave following the recently announced CEO transition plan, and his departure is not the result of any disagreement with Noble regarding its accounting practices, financial statements or financial condition, or any related disclosures, according to the company.
"Having known and worked with Richard for many years, we are delighted that he will be joining Noble as Senior Vice President and Chief Financial Officer,” Julie J. Robertson, Chairman, President and Chief Executive Officer, said in a statement.
“His 15 years of experience in the oil and gas sector on the investment banking side will be a valuable addition to Noble's management team. We are disappointed in Stephen's departure, but I respect his motivation. We appreciate Stephen's contributions and wish him well."
Most recently Barker was employed at Moelis & Co., with previous assignments at JPMorgan Chase & Co., Tudor, Pickering, Holt & Co. and Goldman Sachs & Co. He graduated magna cum laude from Rice University, where he earned a B.A. in Mathematical Economic Analysis and Managerial Studies.
Noble is an offshore drilling contractor with a fleet of 25 offshore drilling units consisting of 12 drillships and semisubmersibles and 13 jackups, focused largely on ultra-deepwater and high-specification jackup drilling opportunities in established and emerging regions worldwide.
To contact the author, email bertie.taylor@rigzone.com.
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