RPC, Inc. Announces CEO Transition as Ben M. Palmer Retires After Three Decades

RPC, Inc. CEO Transition: A New Era Ahead

RPC, Inc., a prominent player in the oilfield services sector, has disclosed significant leadership changes that will shape its future. After serving the company for an impressive thirty years, Ben M. Palmer has announced his retirement from his roles as President and CEO, slated for the end of 2026. This decision marks a pivotal transition period for RPC, indicating a broad strategic shift as the company positions itself for new challenges ahead.

Mr. Palmer has been instrumental in RPC's journey, particularly during his tenure as the company's President and CEO since 2022. Prior to that, he held the position of Chief Financial Officer and Treasurer from 1996, where he played a critical role in guiding the company through periods of market fluctuations. His commitment to maintaining a solid financial foundation has been a cornerstone of RPC's operations, enabling the company to invest in growing sectors of the oilfield services industry while delivering consistent value to shareholders.

In response to Palmer's announcement, the Board of Directors has commenced an extensive search for his successor. According to the Board, this effort will focus on identifying candidates who possess a proven track record in operational excellence within the oilfield services sector, paired with a demonstrated ability to promote growth while safeguarding RPC's financial integrity. The aim is to appoint a leader who can effectively leverage RPC's diversified platform and guide it into the future, ensuring operational stability amidst the complexities of the oil and gas industry.

Richard A. Hubbell, Executive Chairman of the Board of RPC, expressed deep appreciation for Palmer’s impactful leadership over the years. He emphasized Palmer's vital contributions to strengthening RPC's financial base and advancing strategic initiatives that have allowed the company to navigate the evolving oilfield services landscape successfully. Palmer's leadership has not only expanded RPC's operational capabilities but also preserved the agility required to seize growth opportunities in an ever-changing market.

Patrick J. Gunning, Lead Independent Director, articulated the Board's proactive approach to succession planning. Gunning highlighted the importance of this process in ensuring that RPC remains competitive and poised for future advancements. Over the next few months, the Board will work alongside a reputable search firm to facilitate this critical transition, with an emphasis on finding a candidate who can uphold RPC's legacy while steering the company towards new peaks of achievement.

Ben Palmer’s remarks about his journey at RPC are reflective of his dedication to the company and its workforce. He underscored that it has been a privilege to collaborate with such a skilled and committed team throughout his career. Together, they have fortified RPC's reputation in the oilfield sector by investing heavily in its workforce, service quality, and long-term sustainability.

As the company heads toward this leadership transition, Palmer reassures stakeholders of his commitment to supporting the incoming leader, ensuring that the transition is seamless and conducive to RPC's operational continuity. He will remain active in his role as CEO until a successor is appointed or until December 31, 2026, whichever comes first. Following this period, he will serve in an advisory capacity to facilitate a smooth transition for employees, customers, and shareholders alike.

RPC, Inc., established as a leader in providing specialized services to a wide array of oil and gas companies, stands poised for continued innovation and adaptation. With a focus on remaining an asset in the dynamic U.S. oilfield landscape, the company emphasizes not only delivering substantial returns to shareholders but also fortifying its strategic market position.

As RPC embarks on this new chapter of its journey, stakeholders within the oil and gas industry will be keenly watching how the company adapts to the evolving landscape under new leadership and what innovations will stem from this strategic shift. RPC’s positioning reflects a readiness to embrace transformation while honoring its foundational commitment to excellence and growth in the oilfield services sector.