Dril-Quip, Inc. Announces Appointment of Kyle McClure as Chief Financial Officer

Rhea-AI Summary

Dril-Quip (NYSE: DRQ) has appointed Kyle F. McClure as Vice President and Chief Financial Officer, effective January 1, 2022. McClure brings extensive financial expertise, having served as CFO for Airswift and Frank’s International, among other roles. His appointment is expected to enhance Dril-Quip's financial leadership and strategic direction. Jeff Bird, President and COO, expressed confidence in McClure's capability to contribute significantly to the company's financial management and strategy.

Positive

• Appointment of Kyle F. McClure as CFO may enhance financial leadership.
• McClure's extensive experience in finance positions adds value to Dril-Quip.

Negative

• Management change could lead to potential disruption during the transition period.

HOUSTON, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE: DRQ) (the “Company” or “Dril-Quip”) announced today that its Board of Directors has appointed Kyle F. McClure as its Vice President and Chief Financial Officer effective January 1, 2022.

Mr. McClure, age 46, has most recently served as Chief Financial Officer of Airswift, a global workforce solutions company, from June 2019 until December 2021. Prior to joining Airswift, Mr. McClure served as Senior Vice President and Chief Financial Officer of Frank’s International, a provider of engineered tubular services to the oil and gas industry, from March 2017 until June 2019, and before that as Treasurer of Frank’s International from March 2015 until March 2017. Prior to joining Frank’s International, Mr. McClure served in a variety of finance and accounting positions of increasing responsibility at Ascend Performance Materials, Cooper Industries plc and Dell Technologies.

Jeff Bird, Dril-Quip’s President and Chief Operating Officer, remarked, “I am very pleased to have Kyle join Dril-Quip as our Chief Financial Officer. I have worked closely with Kyle before and know he has the financial expertise, experience and leadership skills to lead our Finance function and be a significant contributor to our overall strategy. Kyle is an ideal fit for this position and our team, and we believe he will be a great addition to Dril-Quip.”

About Dril-Quip

Dril-Quip is a leading manufacturer of highly engineered onshore and offshore drilling and production equipment that is particularly well suited for use in deep water, harsh environments, and severe service applications.

www.dril-quip.com

https://www.linkedin.com/company/dril-quip

Investor Relations Contact

Blake Holcomb – Director of Investor Relations and Corporate Planning
(713) 939-0047 x 6364
Blake_Holcomb@dril-quip.com

FAQ

Who has been appointed as CFO of Dril-Quip?

Kyle F. McClure has been appointed as CFO of Dril-Quip effective January 1, 2022.

What experience does Kyle F. McClure have prior to joining Dril-Quip?

Kyle F. McClure previously served as CFO of Airswift and held senior roles at Frank's International.

What impact could Kyle F. McClure's appointment have on Dril-Quip?

His appointment is expected to strengthen Dril-Quip's financial leadership and contribute to its overall strategy.

When does Kyle F. McClure start as CFO of Dril-Quip?

Kyle F. McClure will begin his role as CFO on January 1, 2022.