Pittsburgh, PA (1888PressRelease)
September 11, 2009 - GEODynamics B.V. (www.perf.com) has announced that Matt Bell, currently Vice President –Technology, has been appointed President and Chief Executive Officer, effective September 1, 2009.David Wesson, Co‐founder, President and Chief Executive Officer, has decided to take this opportunity to dedicate more time to his family, private investments and new innovations.
Mr. Wesson welcomed the opportunity to hand over the leadership position. “I’ve spent six years building GEODynamics and with the Company in a solid, profitable position, it is time for a transitionm in management. This is a very positive change for GEODynamics, and one that will allow the company to maximize its potential. Our strong growth continues, in spite of the global recession and industry weakness, and I am confident that GEODynamics is well positioned to become a major
player in the perforating sector.”
Wesson added, “Matt has played an instrumental role in the formation and growth of GEODynamics, leading the investment by Shell Technology Ventures in 2005, and driving technical marketing and new business development in his role as Vice President of Technology. In addition to his vision, focus, and technical skills, he brings renewed energy and passion to the CEO position, which will facilitate this organization in reaching the next level.”
“David Wesson deserves much of the credit for the development of GEODynamics into an industry leader in perforating systems,” Bell commented. “The company’s innovative product portfolio and spectacular early success are a testimony to David’s vision and entrepreneurial spirit. His expertise and leadership have helped the company build a formidable team, strong brand identity, and a loyal customer base around the world. We wish him well in his personal endeavors and look forward to
his continued involvement as an owner and director. “
Mr. Bell will be headquartered at the company’s executive offices in The Woodlands, Texas. He will retain overall responsibility for GEODynamics brand and marketing activities, while his additional duties will be reassigned to other management team positions. Mr. Wesson will remain an active member of the company’s Board of Directors and will assist in the transition of his duties to his successor.
GEODynamics is a technology development company focused on high performance perforating systems and solutions. The company is headquartered in Texas and is developing worldwide distributed manufacturing capabilities. Founded in 2004, it welcomed Orica and Shell Technology Ventures as strategic investors in 2005. For more information, go to www.perf.com.
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