National Oilwell Varco Appoints Clay Williams As President & CEO - Quick Facts

(RTTNews) - National Oilwell Varco, Inc. (NOV) has appointed Clay Williams as its President and Chief Executive Officer with immediate effect. Williams has served as the company's board member since November 2013 and as the company's President and Chief Operating Officer since December 2012.

The company earlier announced that Merrill A. "Pete" Miller, Jr. would resign as Chairman and Chief Executive contemporaneous with the completion of its announced plan to spin off its Distribution Business to its shareholders as an independent, publicly traded firm. Miller elected to step down early as Chief Executive but would remain as Executive Chairman. Miller would resign as the company's Executive Chairman simultaneous with the closing of the spin off to become the Executive Chairman of that publicly traded distribution company.