CFO resigns from drilling equipment manufacturer

Luca Pacioli – the father of accounting

Raj Kumar, CFO of Dril-Quip, has resigned, effective November 1, 2021, to take another opportunity. [UPDATE 10-4-21 He’s joining Houston-based Kirby Corp as CFO]. The company has engaged an executive search firm to conduct a search for his replacement.

Dril-Quip is based in NW Houston and manufactures offshore drilling and production equipment. It has revenues of $340 million and a market capitalization of $892 million (partly driven by a net cash balance of $370 million).

Mr. Kumar joined Dril-Quip in June 2017 as its Treasurer and was promoted to CFO in May 2020, succeeding Jeff Bird who became COO (and is now the CEO). Prior to that he spent two years at Frank’s International, another Houston drilling company, where he worked for Mr. Bird, who was the CFO at Frank’s at the time.

Mr. Kumar started his career in investment banking in Malaysia before joining Dell and later transferring to Austin. He has also worked for LyondellBasel and FMC Technologies.

SEC filing – Dril-Quip Kumar resignation

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