Lesar Named New CEO of Halliburton

Halliburton Company's board of directors, elected David J. Lesar, 47, to the board of directors and named him the company's chairman of the board, president and chief executive officer. Lesar replaces Dick Cheney, who resigned to be George W. Bush's Republican Party vice presidential running mate.

Lesar, currently the company's president and chief operating officer, joined Halliburton in 1993 as executive vice president and chief financial officer of the Halliburton Energy Services business unit. Subsequently, he served the company in a variety of senior management positions including executive vice president and chief financial officer of Halliburton Company and president and chief executive officer of Brown & Root, Inc.

Dick Cheney, who joined Halliburton in 1995, said, "I have greatly enjoyed working with the worldwide family of Halliburton employees and customers during my employment with Halliburton. Having worked closely with Dave Lesar and the Halliburton management team over the past five years, I have great confidence for the future success of Halliburton."

Dave Lesar commented, "Halliburton has immensely benefited from Dick Cheney's leadership and the worldwide respect he commands. Together we have established corporate strategies that will remain in place and continue to lead Halliburton in the future."