Layne Christensen Appoints Michael Calilel of Invensys as New CEO

By Angela Chen 

Drilling-services company Layne Christensen Co. appointed Michael Calilel, who formerly worked at Invensys Software, as chief executive, while also posting stronger third-quarter results.

He will succeed chairman David Brown, who has served as interim CEO since June, when then-CEO Rene J. Robichaud abruptly left amid ongoing declines in mineral exploration activity.

Mr. Calilel was previously CEO of the Invensys Software division of Invensys PLC, an engineering and information technology company. He has also served at Integrated Electrical Services, Inc., and held positions at Honeywell Inc. and ABB. Ltd.

Mr. Brown praised Mr. Calilel's project management experience and experience across varied markets. "We are confident that Mike will help guide Layne into the next phase of its growth, and build upon our successes to date," he said.

Separately, Layne Christensen reported that its revenue grew 10% in the third quarter as loss narrowed to $4.5 million, or 23 cents a share, from $15.7 million, or 80 cents a share a year prior. The results beat analyst expectations.

Write to Angela Chen at [e-mail]

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