HOUSTON– Merrill A. “Pete” Miller, Jr. has informed the National Oilwell Varco board of directors that he intends to step down as chairman and CEO contemporaneous with the completion of the plan to spin off its Distribution Business as an independent, publicly traded company.
Miller will become the executive chairman of that publicly traded distribution company on the effective date of the spinoff. He joined NOV in 1996 and has served as president, CEO, and chairman since 2001.
The company has appointed Clay Williams to the board of directors and plans for him to succeed Miller as chairman and CEO. Williams has served as the company’s president and COO since December 2012 and previously served as the company’s executive vice president and CFO.