Business Context and Reporting Period
This Form 8-K filing by Oil States International, Inc. covers the date of March 27, 2007. The report details significant corporate governance changes, specifically the appointment of a new director and the succession plan for the Chief 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 performance data.
Material Changes
- Executive Succession: Douglas E. Swanson will retire as Chief Executive Officer effective April 30, 2007.
- Leadership Appointment: Cindy Taylor, currently President and Chief Operating Officer, has been promoted to President and Chief Executive Officer, effective May 1, 2007.
- Board Composition: Cindy Taylor was appointed to the Board of Directors effective May 1, 2007. Douglas E. Swanson will remain a director on the Board following his retirement as CEO.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook statements, risk factors, or contingencies. The document serves solely to disclose the executive transition and board appointment.
Investor Verification Checklist
- Confirm the effective dates for the CEO transition (April 30, 2007 for Swanson's retirement; May 1, 2007 for Taylor's appointment).
- Verify the continued role of Douglas E. Swanson as a Board Director post-retirement.
- Review the referenced press release (Exhibit 99.1) for additional details on the leadership transition strategy.