Schlumberger CEO Outlines New Vision for Company

Schlumberger, the world’s largest service company, plans to redefine its focus, exiting unprofitable businesses, restructuring some units, and placing more emphasis on returns, new Chief Executive Officer (CEO) Olivier Le Peuch said in a speech at an investor conference this week.

“The Schlumberger of tomorrow will not be the Schlumberger of today,” said Le Peuch, in his first public remarks since being named CEO. “The unique market outlook and regional dynamics, a clear mandate for capital discipline, the quest for efficiency, and the growing energy transition will combine to create a new chapter for the company.”

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