Oil States International Inc. (NYSE: OIS) said Aug. 7 it named Robert “Bob” L. Potter, retired president of FMC Technologies Inc., as its new chairman. The appointment follows the resignation of former chairman and shale pioneer, Mark G. Papa.
Papa elected to resign as a director of Oil States to join the board of the Houston-based oilfield services company's competitor, Schlumberger Ltd. (NYSE: SLB). He had served as a director of Oil States since the company went public in February 2001 and as chairman since February 2016. Papa, who is known for building EOG Resources Inc. (NYSE: EOG) into one of the most profitable U.S. shale companies, currently heads Centennial Resource Development Inc. (NASDAQ: CDEV).
Cindy B. Taylor, Oil States' president and CEO, said in a statement: "I want to sincerely thank Mark for his leadership and strategic guidance to Oil States throughout his tenure as chairman and director of our company. Mark has been a dedicated director to Oil States over the last 17 years sharing his broad industry experience and the perspective of our E&P customer base."
Potter retired from FMC Technologies, now known as TechnipFMC Plc (NYSE: FTI), in November 2013, after serving with the company for roughly 40 years. He had held a number of sales, operations and management roles with the company since joining in 1973 after his graduation from Rice University.
Taylor added: "I'd also like to welcome Bob to his new role as chairman and look forward to his leadership. Bob's extensive energy industry and manufacturing experience will provide significant benefits to Oil States as we focus on the long-term growth and success of our company,"
He joined the Oil States board in 2017 after previously serving on the board of directors of Tidewater Inc. He is also a former chairman of the board for the Petroleum Equipment Suppliers Association and a former member of the board of directors of the National Ocean Industries Association.
Potter currently is a member of the Council of Overseers for the Jones Graduate School of Business at Rice University.