Douglas Stephens has been selected as the new CEO of Frank’s International N.V., a Houston-based oil services company, FuelFix.com reports.
Stephens was appointed by the Frank’s board of directors and succeeds Gary Luquette, who has been serving as president and CEO since January 2015, the company says.
Luquette will remain with the company through Dec. 31, then serve in a supervisory role until shareholders vote on Stephens in May.
Stephens comes to Frank’s with more than two decades of experience in oilfield services.
Frank’s International was founded in 1938 and provides engineered oilfield products for onshore and offshore exploration. It has about 3,000 employees in more than 60 countries.
In October, the company announced it’s laying off an undisclosed number of workers, including those in Lafayette.
