Houston public company CFO resigns after only two months

National Energy Services Reunited (NESR) has announced that Christine Morris has resigned as CFO, effective November 29. She only joined as CFO October 1. Former CFO and current director, Thomas Wood, has been appointed as interim CFO, while a permanent search takes place. No reason for given for the departure of Ms Morris.

Legally NESR is based in the British Virgin Islands though it has its operational head office in the Galleria. The company went public as a blank-check company in May 2017, raising $229 million. After Ms Morris was hired, in mid-November, the company announced the acquisition of two oilfield service companies in the Middle East for $1 billion.

Ms Morris joined from Halliburton where she spent 7 years holding different positions such as Director of Corporate Finance, Assistant Treasurer and Senior Director of Financial Planning & Analysis.

She is the second former Halliburton executive to have recently left an oilfield services CFO position after a short tenure.

Last week, BJ Services announced the hiring of Kelly Youngblood as its new CFO. He was previously the CFO at Diamond Offshore, but spent most of his career at Halliburton.

BJ Services, like many companies, made no mention of his predecessor in its press release. That happened to be Evelyn Angelle, who only joined the company in January 2017 after spending about 12 years at Halliburton in various senior financial roles. As far as I can tell, she appears to have been let go from BJ Services in October. The company filed for an IPO in July 2017 but hasn’t yet gone public.

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