NOV gains new CEO

NOV Inc. announced that Clay C. Williams was appointed to president and CEO of the company effective immediately.

NOV previously announced that Merrill A. “Pete” Miller, Jr. would step down as chairman and CEO contemporaneous with the completion of its announced plan to spin off its Ddstribution business to its shareholders as an independent, publicly traded company. Miller elected to step down early as CEO but will remain as executive chairman. 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.

 Williams has served as a member of the company’s board of directors since November 2013 and as the company’s president and COO since December 2012. He previously served as the company’s executive VP and CFO.

"Pete has built an incredible organization at National Oilwell Varco, one that has benefitted our customers, suppliers, employees and shareholders,” Williams said. “He has been an inspiring leader for our team, and I look forward to building upon the traditions of diligence and excellence that have been created here.”