REG - Hunting PLC - Appointment of Chairman <Origin Href="QuoteRef">HTG.L</Origin>

HuntingAnnouncement

29/08/2017 07:08

RNS Number : 0646P
Hunting PLC
29 August 2017

29 August 2017
Hunting PLC
("Hunting" or the "Company" or the "Group")
Appointment of Chairman
Hunting PLC (LSE:HTG) is pleased to announce the appointment of John ("Jay") Glick as non-executive Chairman of the Board with effect from 1 September 2017.
Jay will succeed Richard Hunting who on the same date will step down as Chairman after 26 years, but will remain on the Board as a non-independent, non-executive Director.
The succession process has been led by John Hofmeister, Hunting's Senior Independent Director.
Jay Glick
Jay was appointed as a non-executive Director on 2 February 2015 and has served on the Company's Audit, Nomination and Remuneration Committees since his appointment to the Board. 
Prior to joining Hunting, Jay was President and Chief Executive Officer of Lufkin Industries Inc. from 2008 to 2013, when Lufkin was acquired by General Electric Company. Between 1974 and 1994 Jay held several senior management roles within Cameron International Corporation and its predecessor companies. Jay is currently a non-executive director of TETRA Technologies Inc., a NYSE listed oil services company.
Jay is a US citizen and is resident in Houston, Texas, USA.
Mr Glick will also Chair the Board's Nomination Committee.
Following consultation with the Remuneration Committee, Mr Glick's annual fee for chairing the Company and the Nomination Committee will be 175,000, with effect from 1 September 2017.
Richard Hunting C.B.E.
Richard was elected an executive Director and deputy Chairman on the formation of Hunting PLC in 1989 and has been Chairman of the Board since 1991. In 2011, Richard moved from an executive to a non-executive role. The Board appreciates Richard's service and leadership over these many years.
Board Committees
Following the appointment of Mr Glick as Chairman of the Company and the Nomination Committee, Jay will step down as a member of the Audit and Remuneration Committees in line with UK governance recommendations. Mr Hunting will step down as a Chairman of the Nomination Committee and join the Audit Committee.
From 1 September 2017, Hunting's Board Committee membership will be as follows:
Audit Committee
Annell Bay
John Hofmeister
Richard Hunting
John Nicholas (Committee Chairman)
Nomination Committee
Annell Bay
Jay Glick (Committee Chairman)
John Hofmeister
John Nicholas
Remuneration Committee
Annell Bay
John Hofmeister (Committee Chairman)
John Nicholas
Commenting on the appointment, John Hofmeister, Senior Independent Director and non-executive Director of Hunting PLC, said:
"The Board is delighted to announce the appointment of Jay as non-executive Chairman of Hunting. It is a key time for Hunting following the recent announcement of the appointment of Jim Johnson as the Group's new Chief Executive. Jay's extensive knowledge of the oil industry will ensure continued stability as the Group continues on its return to growth. We are also delighted that Richard Hunting has agreed to remain as a non-executive Director and thank him for his 45 years of continued steadfast service."
Richard Hunting commented:
"With Jay's past experience as Chief Executive Officer of an oil services company and his 43 years in the industry, he is an ideal candidate to assume the role of Chairman and assist Jim as he leads the Company through its next phase of growth."
Commenting on his appointment, Jay Glick said:
"I am delighted to be appointed as Chairman of Hunting. I believe that we have an excellent management team and with our market leading technology and strong stakeholder relationships, I am very confident that we are capable of delivering successful performance and growth in the future."
For further information please contact:
Hunting PLC
John Hofmeister, Senior Independent Director
Ben Willey, Company Secretary
Tarryn Riley, Investor Relations
Tel: +44 (0) 20 7321 0123
Buchanan 
Richard Darby
Chris Judd
Madeleine Seacombe
Tel: +44 (0) 20 7466 5000
Notes to Editors:
About HuntingPLC
HuntingPLCis an international energy services provider to the world's leadingupstreamoil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office inHoustonand is headquartered inLondon. As well as theUnited Kingdom, the Company has operations inCanada,China,Indonesia, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, South Africa, United Arab Emiratesand theUnited States of America.
Hunting PLC's Legal Entity Identifier is 2138008S5FL78ITZRN66

This information is provided by RNS
The company news service from the London Stock Exchange
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