Nov 8 U.S. oilfield services company FTS
International (FTSI) has replaced Marc Rowland as chief
executive after 18 months, bringing in Greg Lanham, an executive
at top shareholder Temasek, in a change that is
Rowland, who previously had been chief financial officer of
30 percent FTSI shareholder Chesapeake Energy Corp, was
elevated to CEO of FTSI from the CFO position in May 2011.
"We wish him the best as he moves on to a new chapter in his
life," said Goh Yong Siang, FTSI chairman and head of strategic
relations for Singapore sovereign wealth fund Temasek, FTSI's
largest shareholder, with a 40 percent stake.
The company did not say what Rowland would be doing next.
Lanham, before joining Temasek, spent 20 years with U.S. oil
and gas company Anadarko Petroleum Corp, including
stints as president and general manager of Asian operations. For
the past four years, he has been in Singapore running Temasek's
investment initiatives in Australia and New Zealand.
FTSI, formerly known as Frac Tech, had to abandon plans for
an initial public offering of shares earlier this year because
of the uncertain market.
The U.S. oilfield sector has been weighed down by an influx
of new pressure pumping equipment, which is used in hydraulic
fracturing. Fort Worth, Texas-based FTSI ranks fourth in North
America in terms of pressure pumping capacity, after Halliburton
Co, Schlumberger and Baker Hughes Inc.