Forum Energy Technologies, Inc. announced today that C.Christopher Gaut has been named Chief Executive Officer of the Company by the Board of Directors to replace Prady Iyyanki. Mr. Gaut will continue to serve as Chairman of the Board.
Cris Gaut commented, “Forum is a strong company with tremendous talent and significant upside potential. It is a privilege to be asked to lead the company once again. We will be working very hard to drive superior execution, improve margins and generate free cash flow. There is a wealth of untapped value within Forum and I am excited to get to work.”
“We sincerely thank Prady for his dedication, loyalty and contributions to Forum, and wish him well in the future,” added Gaut.
Mr. Gaut is a seasoned oil and gas industry executive. He has served as a member of Forum’s Board of Directors since 2006 and as Chairman since 2010. In addition, Mr. Gaut previously served as Forum’s Chief Executive Officer from 2010 to May 2017. He served at Halliburton Company, a leading diversified oilfield services company, as President of the Drilling and Evaluation Division and prior to that as Chief Financial Officer, from March 2003 through April 2009. Prior to joining Halliburton in 2003, Mr. Gaut was Chief Financial Officer and Co-Chief Operating Officer of Ensco International, a provider of offshore drilling services.
Forum Energy Technologies is a global oilfield products company, serving the drilling, subsea, completions, production and infrastructure sectors of the oil and natural gas industry. The Company’s products include highly engineered capital equipment as well as products that are consumed in the drilling, well construction, production and transportation of oil and natural gas. Forum is headquartered in Houston, TX with manufacturing and distribution facilities strategically located around the globe. For more information, please visit www.f-e-t.com.