|Lane now Halliburton's chief operating officer|
Halliburton Co. has promoted Andrew Lane, 45, the head of its KBR engineering and construction unit, to chief operating officer and executive vice president of the parent company. Lane, whose promotion was announced Dec. 2, has been CEO of KBR, the former Kellogg Brown & Root, only since July.
In September, Halliburton CEO Dave Lesar said it would "separate" KBR if the parent company's stock does not "trade at multiples comparable to its peers once it puts its asbestos problems behind it." He added that KBR could be sold, spun off, or be the subject of an initial public stock offering.
KBR has been in the spotlight because of its federal contracts in Iraq.
Along with announcing Lane's new job, Halliburton said that John Gibson, CEO of its energy services group, will be leaving to pursue "a leadership role in another company."
With Lane's promotion and Gibson's departure, Halliburton said its business units won't have chief executive officers.
Lesar remains Halliburton's chairman, president and CEO.
(Photo courtesy of Halliburton Co.)