National Oilwell Varco, Inc. announced that Clay C. Williams has been appointed President and Chief Executive Officer of the Company effective immediately.
The Company has previously announced that Merrill A. 'Pete' Miller, Jr. would step down as Chairman and Chief Executive Officer contemporaneous with the completion of its announced plan to spin off its Distribution Business to its shareholders as an independent, publicly traded company.
Mr. Miller elected to step down early as Chief Executive Officer but will remain as Executive Chairman. Mr. Miller will step down as the Company's Executive Chairman simultaneous with the completion of the spin off in order to become the Executive Chairman of that publicly traded distribution company.