Business Context and Reporting Period
This Form 8-K Current Report was filed by Flotek Industries, Inc. on May 8, 2008. The filing addresses a corporate governance event regarding the appointment of a senior executive officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial statement data.
Material Changes
On May 8, 2008, Flotek Industries, Inc. appointed Steve Reeves as Executive Vice President and Chief Operating Officer. Prior to this appointment, Mr. Reeves served as President of the Downhole Tool division (since January 2007) and previously as Vice President of the Turbeco division (April 2004 to January 2007).
Management Commentary and Risks
Management highlighted Mr. Reeves' extensive background, including a 30-year career with Halliburton Energy Services, Inc., where he held roles ranging from field engineer to global operations manager for formation evaluation. He also served as general manager of the Jet Research Center in Alvarado, Texas. The filing does not disclose specific risks, contingencies, or unusual items related to this appointment.
Investor Verification Checklist
- Verify the official press release (Exhibit 99.1) for details on Mr. Reeves' compensation package and start date.
- Review the company's most recent 10-K or 10-Q for current financial performance, as this 8-K contains no financial data.
- Confirm the impact of this leadership change on the Downhole Tool division's strategic direction.