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Weatherford CEO’s rebound plan relies on getting smaller

September 14
08:51 2018

Weatherford CEO's rebound plan relies on getting smallerFour years ago, oilfield company Weatherford International Plc pledged to sell non-core businesses and make paying down debt its top priority after years of borrowing and over spending. Asset sales provided some $1.8 billion to pare debt, and Weatherford’s stock nearly doubled that year. Mark McCollum, the company’s third chief executive officer in two years, thinks his push to simplify its sprawling supplier networks and corporate organization will help turn around one of the largest energy companies yet to emerge from the oil price collapse.

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