Halliburton Names Bob Patel to Board of Directors

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has appointed Bhavesh V. (Bob) Patel to its board of directors, effective February 17, 2021. Patel, currently the CEO of LyondellBasell, brings extensive experience in safety and operational excellence. His leadership at LyondellBasell involved significant expansions and acquisitions, particularly in Asia. This addition to the board is anticipated to enhance Halliburton's global operations and strategic growth. Patel's election by stockholders is scheduled for May 19, 2021.

Positive

• Bhavesh Patel brings extensive leadership experience and operational excellence from LyondellBasell.
• Patel's background includes significant expansions and acquisitions that could benefit Halliburton's growth strategy.
• His international experience is expected to strengthen Halliburton's global business operations.

Negative

• None.

Halliburton Company (NYSE: HAL) today announced that Mr. Bhavesh V. (Bob) Patel has been named to the Company’s board of directors. The appointment is effective February 17, 2021, and he will stand for election by stockholders at the Company’s annual meeting on May 19,2021.

Bhavesh V. (Bob) Patel, CEO, LyondellBasell (Photo: Business Wire)

“Bob has a distinguished track record in safety and operational excellence,” said Jeff Miller, Halliburton chairman, president, and CEO. “This experience, along with his vast global leadership, will provide great value to Halliburton as we build our strong international business.”

Mr. Patel serves as chief executive officer of LyondellBasell, one of the largest plastics, chemicals and refining companies in the world. Prior to becoming CEO, he served in senior executive leadership roles for the company’s largest business segment in the United States and overseas.

As CEO, Mr. Patel has led the next phase of the company’s long-term growth strategy which includes the building of new, world-scale facilities, strategic expansion in Asia and acquisitions that serve growing markets.

For more than 20 years, Mr. Patel held positions of increasing responsibility at Chevron Corporation and Chevron Phillips Chemical Company. Over the course of his career, he has held leadership positions based in the Netherlands, Singapore, and the United States.

Mr. Patel serves on the boards of the Houston Branch of the Federal Reserve Bank of Dallas, the Greater Houston Partnership, the Board of Visitors at the University of Texas MD Anderson Cancer Center, and is a member of the Business Council. He is also on the external advisory council of the College of Engineering at The Ohio State University and the Board of Visitors of the Fox School of Business at Temple University.

Additionally, until his term expires in May 2021, Mr. Patel serves on the board of directors of Union Pacific Corporation. He earned a Bachelor of Science in chemical engineering from The Ohio State University, and he also holds a Master of Business Administration from Temple University.

Mr. Patel joins current Halliburton board members Abdulaziz F. Al Khayyal, William E. Albrecht, Katherine Banks, Alan M. Bennett, Milton Carroll, Nance K. Dicciani, Murry S. Gerber, Patricia Hemingway Hall, Robert A. Malone, and Jeffrey A. Miller.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005116/en/

FAQ

Who is Bhavesh V. (Bob) Patel and what is his role with Halliburton?

Bhavesh V. (Bob) Patel is the newly appointed board member of Halliburton, effective February 17, 2021, and he will stand for election at the annual meeting on May 19, 2021.

What experience does Bob Patel bring to Halliburton?

Bob Patel has extensive experience in operational excellence and global leadership, previously serving as CEO of LyondellBasell.

When will Bob Patel's election to the Halliburton board take place?

Bob Patel's election will occur during Halliburton's annual meeting on May 19, 2021.

What is the significance of Patel's appointment to Halliburton's board?

His appointment is expected to enhance Halliburton's operations and strategic growth initiatives, leveraging his experience in safety and business expansion.