Dallas, TX 8/11/2009 4:53:59 AM
News / Business

Lufkin Industries (NASDAQ: LUFK) Names Richard Stewart to Board

Lufkin Industries Inc. (NASDAQ: LUFK), the oilfield services and equipment company, announced Friday that the company elected Richard R. Stewart to its board of directors.

 

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Stewart, 59, served as president and CEO of GE Aero Energy, a division of GE Energy, and as an officer of General Electric Co. (NYSE: GE), from 1998 until his retirement in December 2006. He currently serves on the boards of Kirby Corp. and Eagle Materials.

 

Stewart's career at General Electric began in 1998 as a result of General Electric's acquisition of the gas turbine business of Stewart & Stevenson Services, Inc. He holds a BBA in Finance from the University of Texas.

 

The company could not immediately provide details about whether Stewart's appointment will increase the size of the board, or if he is replacing another member.

 

Shares of Lufkin rose 43 cents to $47.60 at Friday's close.

 

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