Weatherford International plc announces that Christoph Bausch will step down as Executive Vice President and Chief Financial Officer effective November 14, 2019 to pursue other opportunities. He will remain with the Company through November 30, 2019 to transition his responsibilities. 

Mark A. McCollum, President and Chief Executive Officer for Weatherford, commented, 
"On behalf of the Board of Directors and the management team, we are grateful to Christoph for his hard work and leadership, which strengthened the Company's focus on financial discipline, cash flow generation, and improved cost efficiencies. His tireless efforts in these areas as well as many others served employees and stakeholders well. We will continue to build upon these principles and I am confident that our talented management team will be able to support us through this transition."

Stuart Fraser, Vice President and Chief Accounting Officer, will serve as the interim Chief Financial Officer from November 14, 2019 until January 6, 2020, when the new Chief Financial Officer will begin. Mr. Fraser joined Weatherford in 2015 and has served in various senior financial roles including Vice President and Corporate Controller and Vice President of Finance and Purchasing, Sourcing and Logistics. Prior to joining Weatherford, he served a 19-year career with Schlumberger Ltd., where he held senior financial positions in global and regional capacities in the US, France, Angola, Malaysia, and Indonesia across a number of business segments covering operations, internal audit, taxation, supply chain, and transformation. Stuart is a Chartered Accountant and holds a Bachelor of Business degree from the Edith Cowan University in Australia.

New Chief Financial Officer

Christian Garcia has been appointed Executive Vice President and Chief Financial Officer, effective January 6, 2020. Christian has more than 30 years of financial experience and has held leadership roles in the oilfield services, automotive electronics, software and consulting, and business equipment industries.

Christian recently served as Executive Vice President and Chief Financial Officer at Visteon Corporation, a leader in automotive cockpit electronics, and served as a board member of Keane Group, a pure-play provider of integrated well completions. Prior to these roles, he served as acting Chief Financial Officer of Halliburton, an oilfield services company, where he held a variety of leadership positions of increasing responsibility.  Christian has been consistently selected to the All-America Executive Team by Institutional Investor magazine in the Investor Relations and CFO categories.

Mark A. McCollum, President and Chief Executive Officer for Weatherford, stated,
"Christian brings extensive oilfield services experience and his professionalism and leadership are respected throughout our industry.  As we look to the future, we are delighted that he will be part of the executive team that will lead Weatherford into its next chapter."

"I am very excited to join Weatherford as the potential for value creation is significant, given its product and technology portfolio. I look forward to partnering with Mark and the team on the next stage of the Company's transformation," said Christian. 

KeyFacts Energy Industry Directory: Weatherford