By Angela Chen
Drilling-services company Layne Christensen Co. appointed
Michael Calilel, who formerly worked at Invensys Software, as chief
executive, while also posting stronger third-quarter results.
He will succeed chairman David Brown, who has served as interim
CEO since June, when then-CEO Rene J. Robichaud abruptly left amid
ongoing declines in mineral exploration activity.
Mr. Calilel was previously CEO of the Invensys Software division
of Invensys PLC, an engineering and information technology company.
He has also served at Integrated Electrical Services, Inc., and
held positions at Honeywell Inc. and ABB. Ltd.
Mr. Brown praised Mr. Calilel's project management experience
and experience across varied markets. "We are confident that Mike
will help guide Layne into the next phase of its growth, and build
upon our successes to date," he said.
Separately, Layne Christensen reported that its revenue grew 10%
in the third quarter as loss narrowed to $4.5 million, or 23 cents
a share, from $15.7 million, or 80 cents a share a year prior. The
results beat analyst expectations.
Write to Angela Chen at angela.chen@dowjones.com
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