National Oilwell Varco Appoints New CFO

Jose Bayardo has taken over fiscal leadership at NOV after serving in a vice president role at Continental Resources.

HOUSTON — National Oilwell Varco, Inc. announced Monday that Jose Bayardo has been named Senior Vice President and Chief Financial Officer of National Oilwell Varco, effective Aug. 28. Mr. Bayardo succeeds Scott Duff, Interim Chief Financial Officer.

Prior to joining National Oilwell Varco, Mr. Bayardo, 43, served as Senior Vice President, Resource and Business Development at Continental Resources, Inc. Prior to Continental, Bayardo spent nine years with Complete Production Services, Inc., serving in various roles, including the position of Senior Vice President, Chief Financial Officer and Treasurer. Bayardo also served in several other roles at Complete, including Vice President - Corporate Development and Investor Relations, and Vice President of a subsidiary's Rocky Mountain and Mid-Continent operations. Prior to joining Complete Production Services, Bayardo was an investment banker with J.P. Morgan.

Clay C. Williams, Chairman, President and CEO of National Oilwell Varco, remarked, “I am delighted to welcome Jose to our executive management team. Jose brings a wealth of financial experience to NOV having worked both in the oil and gas industry and in investment banking during his career. Jose’s proven abilities in financial management will be central as we continue to pursue our strategic and financial business goals.”

Mr. Williams added, “I would also like to thank Scott Duff for his exceptional service and leadership over the past few months as we conducted our CFO search. With Scott’s continued support, we anticipate a smooth transition as Jose assumes his new roles and responsibilities. Scott will continue to serve as the company’s Vice President, Corporate Controller and Chief Accounting Officer.”

Mr. Bayardo remarked, “It is a tremendous opportunity to join the world’s leading oilfield equipment manufacturer. I look forward to working closely with the exceptional team at NOV to continue building on the success of the organization and further increase shareholder value.”

National Oilwell Varco is a global designer, manufacturer and seller of equipment and components used in oil and gas drilling and production operations and the provision of oilfield services to the upstream oil and gas industry.

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