Deep Down, an oilfield services company, has accepted the resignation of executive chairman and chief financial officer, Eugene Butler, effective September 30, 2017.
The company’s board of directors has named current audit committee chairman, Mark Carden, as chairman of the board and current business manager, Charles Njuguna, as chief financial officer.
Butler will continue to provide financial and SEC guidance, in a consulting capacity until December 31, 2018.
Ron Smith, chief executive officer of Deep Down, stated: “No words can fully express our appreciation for Gene’s contributions to Deep Down. Ever since he arrived at the company, Gene has always strived to improve the company, always ensured we operated at the highest financial standards, and his extensive knowledge will be sorely missed. We wish him all the best in his retirement, and are extremely grateful that he will be available to continue providing guidance for our team. He’s been a great partner.”