Halliburton CFO Mark McCollum. Image courtesy of Houston Baptist University/Youtube.

Services giant Halliburton tapped CFO Mark McCollum to lead the joint integration team that will guide the company’s acquisition of rival services player Baker Hughes.

McCollum will serve as executive vice president and chief integration officer and will remain on Halliburton’s executive committee, Halliburton said Monday.

He is expected to reassume his CFO duties once the merger is complete.

Senior vice president and chief accounting officer Christian Garcia has been appointed senior vice president of finance and will assume McCollum’s CFO responsibilities on an interim basis.

Garcia will join Halliburton’s executive committee.

Vice president of finance Charlie Geer will become vice president and corporate controller.

Geer will take over Garcia’s accounting responsibilities on an interim basis.

All three appointments are effective January 1, 2015.

President of global products and services for Baker Hughes Belgacem Chariag will head the Baker Hughes side of the joint integration team.

Halliburton agreed to purchase Houston-based Baker Hughes on November 17 for $34.6 billion in cash and stock.

Analysts have speculated the deal could raise antitrust concerns.

Houston-based Halliburton said it is prepared to divest from businesses that generate a combined $7.5 billion per year, although it expects regulators will require “significantly less” divestment.

The combined companies had a pro-forma 2013 revenue of $51.8 billion, beating Houston-based Schlumberger’s $45.3 billion in revenue.

Halliburton CEO Dave Lesar will head the new firm and the board of directors will be expanded to 15 members, with three members coming from the Baker Hughes board.

The deal must still be approved by federal regulators.

“We are committed to putting together a detailed and thoughtful integration plan to make the post-closing transition as seamless, efficient and productive as possible,” Lesar said.


Leave a Reply