Item 2.02 Results of Operations and Financial Condition.
On January 29, 2020, Core Laboratories N.V. (the "Company") issued a press
release announcing its financial results for the fourth quarter of 2019 and the
year ending December 31, 2019. The full text of the press release is set forth
in Exhibit 99.1 attached hereto.
The information in this Report and the exhibit attached hereto shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), nor shall they be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly stated by specific reference in such
filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of David Demshur
On January 29, 2020, the Company announced that, effective as of the conclusion
of the 2020 annual shareholders' meeting on May 20, 2020 (the "2020 Annual
Meeting"), David Demshur has informed the Supervisory Board of Directors of the
Company (the "Supervisory Board") that he will retire from his role as Chief
Executive Officer and Chairman of the Supervisory Board. He will not seek
re-election to the Supervisory Board at the 2020 Annual Meeting. Mr. Demshur
will remain employed by the Company to support the transition until his
retirement on December 31, 2020.
Mr. Demshur's retirement is not the result of any disagreement with the Company
on any matter relating to the Company's operations, policies or practices.
Appointment of Lawrence Bruno
Effective May 20, 2020, Lawrence Bruno, age 60, will succeed Mr. Demshur as the
Chairman of the Supervisory Board and Chief Executive Officer. Mr. Bruno is
currently a member of the Company's Supervisory Board and serves as President
and Chief Operating Officer. Mr. Bruno has been in the industry for more than 35
years and with the Company for more than 21 years. On January 1, 2019, Mr. Bruno
assumed the position of Chief Operating Officer after becoming the President of
the Company on February 1, 2018. As President and Chief Operating Officer, Mr.
Bruno has led the Company's global operations for both of its business segments,
Reservoir Description and Production Enhancement. Over the last several years,
Mr. Bruno has served as a technical spokesperson for many investor presentations
and panels in the oil and gas industry, and has been instrumental in driving the
Company's technology innovation that will continue to be a critical strength in
the years to come. Mr. Bruno previously led the Company's global reservoir-based
laboratories within the Company's Reservoir Description segment, from July 2015
through January 31, 2018. Mr. Bruno received a Master of Science degree in
Geology from the University of Houston in 1987.
Further information regarding the terms of any amendment to Mr. Bruno's
employment arrangements in connection with his promotion called for by Item
5.02(c)(3) is not yet determined at this time. The Company will provide such
information, if any, in an amendment to this Form 8-K within four business days
after the information is determined or becomes available.
There is no arrangement or understanding between Mr. Bruno and any other person
pursuant to which Mr. Bruno was selected as an officer of the Company. Mr. Bruno
has no family relationship (within the meaning of Item 401(d) of Regulation S-K)
with any director, executive officer or person nominated or chosen by the
Company to become a director or executive officer. There are no transactions
between the Company and Mr. Bruno that would require disclosure under Item
404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934,
as amended, nor are any such transactions currently proposed.
--------------------------------------------------------------------------------
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1Press release issued on January 29, 2020 *
104Cover Page Interactive Data File (embedded within the Inline XBRL document).
* This exhibit is intended to be furnished and shall not be deemed "filed" for
purposes of the Exchange Act.
--------------------------------------------------------------------------------
CORE LABORATORIES N.V.© Edgar Online, source Glimpses
CORE LABORATORIES INC. 
