Question

Write an 8-12 sentence paragraph on the key events in the career of Lance Loeffler, Halliburton’s Executive Vice President and Chief Financial Officer. In another paragraph determine whether he or his previous employer(s) has been personally involved in unethical behavior in the past. Use only information available online and cite each source.

Answer 1

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With 60,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the life cycle 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.

Key events in the career of Lance Loeffler, Halliburton’s Executive Vice President and Chief Financial Officer.

Mr. Loeffler joined Halliburton in 2014. He served as vice president of Corporate Development for two years before assuming leadership of Investor Relations. Before joining Halliburton, he held director positions at Deutsche Bank Securities, Inc. and UBS Investment Bank where he focused on the firms' oil and gas clients. Mr. Loeffler holds an MBA with concentrations in finance and accounting and a bachelor's degree in finance from the McCombs School of Business at the University of Texas at Austin.

Mr. Loeffler will lead the company's financial functions, including financial planning and analysis, accounting and financial reporting, tax, internal assurance, treasury, corporate development and investor relations.

We believe Lance’s financial expertise, along with his knowledge of Halliburton and experience with the investment community, makes him best suited to lead our financial strategy and outstanding finance organization,” said Jeff Miller, President and CEO. “Lance understands our returns-focused strategy, has a strong relationship with our executive management team, and will have an immediate impact as he transitions into his new role.”

Miller thanked Weber for his contributions to Halliburton. Prior to arriving at Halliburton, Weber was finance chief of Parker Drilling. Before that, he was treasurer of Ensco plc, after Ensco acquired Pride International, where Weber was vice president of operations support. He has an MBA from The Wharton School.

In the last year, Halliburton shares have significantly underperformed the S&P 500, amid a tough environment for oil and gas stocks. Halliburton shares were trading near their 52-week low on Tuesday, at $33.21. The 52-week high is $57.86.

Halliburton beat revenue and profit expectations for the third quarter, but said demand for some of its completion services (making a well ready for production) was weaker than anticipated. The company blamed infrastructure constraints in North America and customer “budget exhaustion.”