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Nabors Announces Retirement of CFO William Restrepo

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Nabors Industries (NYSE: NBR) announced that CFO William Restrepo will retire effective September 30, 2025, after serving 11 years in the position. He will continue as a Strategic Advisor to CEO Anthony G. Petrello.

During his tenure, Restrepo played a important role in:

  • Refocusing the company in the drilling space
  • Expanding international presence
  • Supporting technology leadership
  • Growing Nabors Drilling Solutions
  • Managing key acquisitions (Tesco and Parker Wellbore)
  • Reducing company debt by 50%
  • Navigating industry downturns in 2015 and 2020

Miguel Rodriguez, current Senior VP of Operations Finance, will transition into the CFO role. Rodriguez joined Nabors in 2019 with over 25 years of finance experience at SLB, where he previously led the financial function for SLB's Drilling Group.

Nabors Industries (NYSE: NBR) ha annunciato che il CFO William Restrepo si ritirerà il 30 settembre 2025, dopo aver ricoperto la carica per 11 anni. Continuerà a lavorare come Consulente Strategico per il CEO Anthony G. Petrello.

Durante il suo mandato, Restrepo ha svolto un ruolo importante in:

  • Riorientare l'azienda nel settore della perforazione
  • Espandere la presenza internazionale
  • Sostenere la leadership tecnologica
  • Crescere Nabors Drilling Solutions
  • Gestire acquisizioni chiave (Tesco e Parker Wellbore)
  • Ridurre il debito aziendale del 50%
  • Navigare le crisi del settore nel 2015 e nel 2020

Miguel Rodriguez, attuale VP Senior della Finanza Operativa, assumerà il ruolo di CFO. Rodriguez è entrato in Nabors nel 2019 con oltre 25 anni di esperienza nel settore finanziario presso SLB, dove in precedenza ha guidato la funzione finanziaria del Gruppo Perforazione di SLB.

Nabors Industries (NYSE: NBR) anunció que el CFO William Restrepo se retirará el 30 de septiembre de 2025, después de haber ocupado el cargo durante 11 años. Continuará como Asesor Estratégico del CEO Anthony G. Petrello.

Durante su mandato, Restrepo desempeñó un papel importante en:

  • Reenfocar la empresa en el sector de perforación
  • Expandir la presencia internacional
  • Apoyar el liderazgo tecnológico
  • Crecimiento de Nabors Drilling Solutions
  • Gestionar adquisiciones clave (Tesco y Parker Wellbore)
  • Reducir la deuda de la empresa en un 50%
  • Navegar por las crisis de la industria en 2015 y 2020

Miguel Rodriguez, actual VP Senior de Finanzas Operativas, asumirá el rol de CFO. Rodriguez se unió a Nabors en 2019 con más de 25 años de experiencia en finanzas en SLB, donde anteriormente lideró la función financiera del Grupo de Perforación de SLB.

나보르스 산업 (NYSE: NBR)은 CFO 윌리엄 레스트레포가 2025년 9월 30일부로 퇴직한다고 발표했습니다. 그는 11년 동안 이 직책을 맡았습니다. 레스트레포는 CEO 앤서니 G. 페트렐로의 전략 고문으로 계속 활동할 것입니다.

그의 재임 기간 동안 레스트레포는 다음과 같은 중요한 역할을 했습니다:

  • 드릴링 분야에서 회사의 초점을 재조정
  • 국제적 존재감 확대
  • 기술 리더십 지원
  • 나보르스 드릴링 솔루션 성장
  • 주요 인수 관리 (테스코 및 파커 웰보어)
  • 회사의 부채를 50% 줄임
  • 2015년과 2020년의 산업 불황 극복

현재 운영 재무 수석 부사장인 미구엘 로드리게스가 CFO 역할로 전환됩니다. 로드리게스는 SLB에서 25년 이상의 재무 경험을 가지고 있으며, SLB의 드릴링 그룹의 재무 기능을 이전에 이끌었습니다.

Nabors Industries (NYSE: NBR) a annoncé que le CFO William Restrepo prendra sa retraite le 30 septembre 2025, après avoir occupé ce poste pendant 11 ans. Il continuera en tant que Conseiller Stratégique pour le CEO Anthony G. Petrello.

Durant son mandat, Restrepo a joué un rôle important dans :

  • Le recentrage de l'entreprise dans le secteur du forage
  • L'expansion de la présence internationale
  • Le soutien à la direction technologique
  • La croissance de Nabors Drilling Solutions
  • La gestion d'acquisitions clés (Tesco et Parker Wellbore)
  • La réduction de la dette de l'entreprise de 50%
  • La navigation à travers les crises de l'industrie en 2015 et 2020

Miguel Rodriguez, actuel VP Senior des Finances Opérationnelles, prendra le rôle de CFO. Rodriguez a rejoint Nabors en 2019 avec plus de 25 ans d'expérience financière chez SLB, où il a précédemment dirigé la fonction financière du Groupe de Forage de SLB.

Nabors Industries (NYSE: NBR) gab bekannt, dass CFO William Restrepo am 30. September 2025 in den Ruhestand gehen wird, nachdem er 11 Jahre in dieser Position tätig war. Er wird weiterhin als Strategischer Berater für CEO Anthony G. Petrello tätig sein.

Während seiner Amtszeit spielte Restrepo eine wichtige Rolle bei:

  • Neuausrichtung des Unternehmens im Bohrsektor
  • Erweiterung der internationalen Präsenz
  • Unterstützung der technologischen Führungsposition
  • Wachstum von Nabors Drilling Solutions
  • Management wichtiger Übernahmen (Tesco und Parker Wellbore)
  • Reduzierung der Unternehmensschulden um 50%
  • Bewältigung von Branchentiefs in 2015 und 2020

Miguel Rodriguez, derzeitiger Senior VP für Betriebsfinanzen, wird die Rolle des CFO übernehmen. Rodriguez trat 2019 bei Nabors ein und bringt über 25 Jahre Erfahrung im Finanzwesen bei SLB mit, wo er zuvor die Finanzabteilung der Bohrgruppe von SLB leitete.

Positive
  • Smooth leadership transition with experienced internal candidate
  • Retiring CFO remains as Strategic Advisor ensuring continuity
  • New CFO brings 25+ years of relevant industry finance experience
  • Successful debt reduction of 50% under retiring CFO's tenure
Negative
  • Loss of long-term CFO with 11 years of company experience

HAMILTON, Bermuda, March 19, 2025 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today announced executive leadership changes as part of its succession planning process. William Restrepo, Nabors CFO, informed the Company of his intention to retire from his current position effective September 30, 2025. On that date, Mr. Restrepo will remain available as a Strategic Advisor to Anthony G. Petrello, Nabors Chairman, CEO and President.

Mr. Petrello, commented, "As Nabors CFO for the past 11 years, William has been instrumental in the Company's success in refocusing in the drilling space, expanding our strength internationally and supporting Nabors' technology leadership. He also contributed to the growth of Nabors Drilling Solutions. William was a key player in the divestiture of our Completions & Workover business, as well as the acquisitions of Tesco and Parker Wellbore. At the same time, he led our efforts to cut our debt in half, while navigating the pronounced industry cyclicality during his tenure. The company's ability to withstand the severe industry downturns in 2015 and again in 2020 are a testament to his outstanding financial leadership.

"William's accomplishments help position the Company for even more success in the future. I thank him for his contributions, and will continue to use his counsel as we transform Nabors over this exciting period."

Nabors Senior Vice President – Operations Finance, Miguel Rodriguez, will progressively transition into the role of CFO over the next several months. Mr. Rodriguez joined Nabors in 2019, after spending more than 25 years in finance roles at SLB. These included several international postings with increasing responsibility, before leading the financial function for SLB's Drilling Group. In his role at Nabors, Mr. Rodriguez revamped and streamlined the Operations Finance function, before adding the Company's Treasury and Tax functions to his area of responsibility.

Mr. Petrello added, "I am excited for Miguel to take on the additional challenges of his new role. He has worked closely with William in preparing for this new position. Miguel has been a key member of our leadership team and has helped us align our cost and support structure during Nabors' transformation and the recent industry cycles. Over the last few years, he has become increasingly involved in our capital markets transactions, our banking relationships and our global tax organization. I am confident he's ready to take on his new responsibilities. I look forward to benefitting from his contributions and leadership."

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

Forward-looking Statements

The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements. 

Investor Contacts: William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail william.conroy@nabors.com, or Kara K. Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email kara.peak@nabors.com. To request investor materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail mark.andrews@nabors.com.

Cision View original content:https://www.prnewswire.com/news-releases/nabors-announces-retirement-of-cfo-william-restrepo-302405223.html

SOURCE Nabors Industries Ltd.

FAQ

When will William Restrepo retire as Nabors (NBR) CFO?

William Restrepo will retire as Nabors CFO effective September 30, 2025.

Who will replace William Restrepo as the new CFO of Nabors (NBR)?

Miguel Rodriguez, current Senior VP of Operations Finance, will transition into the CFO role.

What were William Restrepo's major achievements during his 11-year tenure as Nabors (NBR) CFO?

Restrepo reduced company debt by 50%, managed key acquisitions, expanded international presence, and successfully navigated industry downturns in 2015 and 2020.

What is Miguel Rodriguez's background before joining Nabors (NBR)?

Rodriguez spent over 25 years at SLB in various finance roles, including leading the financial function for SLB's Drilling Group.
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