#Bermuda #Hamilton #Nabors Industries #CFO Transition #William Restrepo

Summary of Leadership Changes at Nabors Industries

In a significant development, Nabors Industries Ltd., a key player in the global energy sector, has officially announced the upcoming retirement of its Chief Financial Officer (CFO), William Restrepo. Scheduled to leave his position on September 30, 2025, Restrepo will, however, continue to offer his expertise as a Strategic Advisor to the company's Chairman and CEO, Anthony G. Petrello. This transition marks a thoughtful step in Nabors’ succession planning, ensuring continuity in leadership while also paving the way for new direction.

William Restrepo's Tenure

Having served as the CFO for over a decade, Restrepo has been a cornerstone of Nabors' financial and strategic successes. Under his stewardship, the company made substantial strides in the drilling industry, enhancing its international reach and cementing its position as a technology leader. Notably, he was instrumental in various major company milestones, including the divestiture of its Completions Workover business and strategic acquisitions, such as Tesco and Parker Wellbore. During his tenure, Restrepo executed strategies that effectively halved the company’s debt, demonstrating exceptional financial governance amid fluctuating market conditions.

Petrello remarked on Restrepo's invaluable contributions, emphasizing that his efforts significantly supported Nabors’ resilience during difficult industry downturns, including those experienced in 2015 and 2020. "William's accomplishments help position the Company for even more success in the future," Petrello stated, reflecting on the robust foundation laid by Restrepo for Nabors as it enters a new phase.

Transition to Miguel Rodriguez

Taking over the CFO responsibilities will be Miguel Rodriguez, currently serving as the Senior Vice President – Operations Finance at Nabors. Rodriguez has been with the company since 2019, building an impressive resume that includes over 25 years of finance expertise at SLB. His background encompasses numerous international positions, with a focus on advancing financial operations. At Nabors, he has played a pivotal role in revamping the Operations Finance sector and expanding his influence over the company’s Treasury and Tax functions.

As Petrello highlighted, Rodriguez has closely collaborated with Restrepo to prepare for this transition, ensuring a seamless handover. His involvement in the company’s financial strategies, capital market transactions, and banking relationships positions him well to step into the elevated role of CFO. "I am excited for Miguel to take on the additional challenges of his new role," Petrello conveyed, expressing confidence in Rodriguez's capability to navigate the complexities of the position.

Company Overview

Nabors Industries is recognized as a leader in providing sophisticated technology solutions to the energy sector, operating in over 20 countries. Focused on innovation, Nabors strives for safe, efficient energy production while committing to environmentally responsible practices. As it embarks on this leadership change, Nabors is poised to continue its legacy of transformation and adaptation within the energy landscape.

In summary, the retirement of William Restrepo marks the end of a prominent chapter for Nabors Industries, but the appointment of Miguel Rodriguez is anticipated to usher in further advancements as the company navigates a new era in the energy sector.