Noble Corp. CFO Steps Down. Replacement Named

March 16, 2020

Illustration: Noble Corp. drilling rig - Credit: Noble Corp.
Illustration: Noble Corp. drilling rig - Credit: Noble Corp.

Offshore drilling company Noble Corporation has informed that Richard Barker will be appointed as Chief Financial Officer of the company.

The new appointment comes following the current CFO Stephen M. Butz's decision to to step down as Executive Vice President and Chief  Financial Officer to pursue other opportunities. Butz himself was appointed Noble Corp. CEO on December 19, 2019.

"Mr. Butz made the decision to leave the Company following the recently announced Chief Executive Officer transition plan. His departure is not the result of any disagreement with the Company regarding its accounting practices, financial statements or financial condition, or any of the Company's related disclosures,“ Noble Corp. said Monday.

Julie J. Robertson, Chairman, President and Chief Executive Officer of the Company, said, "Having known and worked with Richard for many years, we are delighted that he will be joining Noble as Senior Vice President and Chief Financial Officer. His 15 years of experience in the oil and gas sector on the investment banking side will be a valuable addition to Noble's management team. We are disappointed in Stephen's departure, but I respect his motivation. We appreciate Stephen's contributions and wish him well."

Butz said, "Noble is a company with a rich history, high-quality assets, and an exceptional workforce. I have confidence in Robert's ability to lead the company through this challenging market, and I wish him and the rest of the management team nothing but success going forward."

The new CFO Barker joins Noble following a career in investment banking, specializing in oil field services and equipment.  

Most recently, he was employed at Moelis & Company, with previous assignments at JPMorgan Chase & Co., Tudor, Pickering, Holt & Co. and Goldman Sachs & Company.   Mr. Barker, who will begin his new role on March 30, 2020, graduated magna cum laude from Rice University, where he earned a B.A. in Mathematical Economic Analysis and Managerial Studies.

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