Drilling equipment specialist Boart Longyear has announced that Craig Kipp has terminated his tenure as Chief Executive Officer and director effective immediately.

 

The company’s Chairman, David McLemore, will serve as Exeuctive Chairman and acting CEO while the search begins for a successor to Mr Kipp.

 

The company’s board thanked Mr Kipp for his service in the role, and confirmed it will conduct an external search for a replacement.

 

“During his tenure with Boart Longyear, Craig has led the Company’s transformation into the global industry leader and standard setter it is today. Among his accomplishments, Craig has cultivated a deep, talented and experienced management team that is well positioned to lead the Company’s future success,” Mr McLemore said.