Halliburton Unit Has a New CEO

Texas oil and gas service company Halliburton has promoted Andy Lane to the position of president and CEO of its subsidiary KBR.
The new CEO will apparently have to arrange many probes involving work in Iraq.

The 45-year-old Lane replaces Randy Harl, who headed the operation for about the past three years.

Lane has been a part of the oil and gas services side of Halliburton since 1984, advancing to president and chief executive of Landmark Graphics and more recently to senior vice president of the Energy Service Group's regional organization, supervising nine vice presidents around the globe.

The move is part of a succession strategy that moves upwardly mobile executives into parts of the business they haven't worked in before, said Dave Lesar, Halliburton's chairman, president and chief executive.

The promotion puts Lane on a level with John Gibson, president and chief executive officer of the Energy Services Group, which produced revenue of $6.99 billion in 2003.