Flotek Industries has appointed Robert M. Schmitz as executive vice president and CFO, succeeding H. Richard Walton, who has been named CFO emeritus, the company said in a news release.

Schmitz served as Flotek’s vice president and corporate controller since June 2013. Prior to joining Flotek, he served as vice president and chief accounting officer at Champion Technologies Inc., the release said. Schmitz also worked at Shell Oil Co., ultimately serving as CFO of the Shell Energy Services division. In addition, he worked as accounting director at Dynegy. Schmitz, a certified public accountant, graduated from Kansas State University with a degree in business administration.

Walton has served as Flotek’s CFO since January 2013. Prior to joining Flotek, he spent his entire 30-year career in public accounting, including 20 years as an audit partner at KPMG, according to the release. His experience includes financial statement audits and registration of securities with the SEC. Following his retirement from KPMG in 2003, Walton served as a consultant to public companies, including Flotek since 2010. Walton is a certified public accountant and has served as an officer in the U.S. Army. He holds a Bachelor's degree from Westminster College in economics and business administration.

Schmitz and Walton will remain based in the company’s Houston headquarters, the release said.