Weatherford International Plc (NYSE: WFT) said on Nov. 9 CEO Bernard Duroc-Danner has left the company, effective immediately. The oilfield services company named CFO Krishna Shivram its interim CEO.
The company's shares, which were halted for news pending, surged 33.2% in late trading and closed up at $5.06.
Shivram will continue as CFO until that position is filled, Weatherford said.
Weatherford's unit, Weatherford International LLC , agreed in September to pay a $140 million penalty to settle charges that it inflated earnings between 2007 and 2012 by using deceptive income tax accounting.
The U.S. Securities and Exchange Commission said in October that Ernst & Young will pay $11.8 million to settle charges over "failed audits" of Weatherford International Plc.