Key Energy Services Inc. (NYSE: KEG) said on May 14 that the president and CEO Robert Drummond notified the company of his decision to resign from his role as CEO to pursue another opportunity effective May 11, 2018.
While Drummond was prepared to continue in his position for 90 days, the board has determined to name Key’s current senior vice president and CFO, Marshall Dodson, as interim CEO. Dodson will continue to fulfill his current responsibilities during the interim period. Drummond will continue to remain on Key’s board of directors. Key will be engaging an executive search firm to conduct a comprehensive search for its next CEO.
“We would like to thank Robert for his leadership and service to Key and appreciate his desire to play a continued role as a Director. We wish him the best in his future endeavors,” Phillip Norment, Key’s chairman of the board of directors, said.