NESR Named Stefan Angeli as CFO

Author: Charles Gross | February 08, 2022 06:37am
National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced the appointment of Stefan Angeli as Chief Financial Officer of NESR, effective immediately, replacing Chris Boone who is leaving the Company to start another role. To ensure a smooth transition, NESR has rescheduled its earnings conference call which will be announced separately. Mr. Angeli comes to NESR with more than 35 years of experience in corporate and operational finance, controllership, accounting, tax and mergers & acquisitions across the energy industry and public accounting. Prior to NESR, Mr. Angeli was the Chief Financial Officer for Stratum Reservoir, after having spent 30 years with Schlumberger where he held many diverse roles. In his last assignment with Schlumberger, Mr. Angeli was Group Controller for Integrated Project Management reporting to the Chief Financial Officer. Prior to that, Mr. Angeli was the controller for the Production Group and Area Controller for Latin America. Before these corporate assignments, Mr. Angeli was the controller for the Schlumberger Information Systems and Well Completion & Productivity business segments. Mr. Angeli received his Bachelor of Economics degree from the University of Sydney and is a qualified Chartered Accountant. In Mr. Angeli's role as Chief Financial Officer, he will oversee financial reporting, accounting, tax, treasury, risk management and financial planning & analysis, as well as lead the supply chain and information technology functions of NESR. "I am excited to step into the Chief Financial Officer role at NESR and continue to support the Company execute its strategic plan, accelerate its growth, and deliver value for its shareholders. I look forward to partnering with the entire NESR team to build on the Company's strong momentum and business fundamentals," said Mr. Angeli. Sherif Foda, Chairman and Chief Executive Officer, commented, "Stefan has a proven track record of results-driven leadership, strategic thinking and financial acumen. We look forward to benefiting from his leadership and expertise especially through the next super cycle. As NESR grows, matures, and takes on more complex projects, we believe Stefan's established experience as senior level finance and in handling a wide variety of businesses will be very beneficial to NESR. I have previously worked with Stefan, and I am very happy to see him join the team. Additionally, I would like to thank Chris for the nearly three years that he dedicated to NESR and wish him all the best in his next role."

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