National Oilwell Varco Announces Appointment of New Director and Spin Update


National Oilwell Varco has announced that Marcela E. Donadio has been appointed to the National Oilwell Varco Board of Directors effective April 8, 2014.

Clay Williams, National Oilwell Varco’s President and Chief Executive Officer, remarked that “I am delighted to welcome Marcela to our board. She brings excellent hands-on auditing and accounting experience from her long career, and the entire board looks forward to working with her.”

Ms. Donadio has over 37 years of audit and public accounting experience with a specialization in domestic and international operations in all segments of the energy industry. Ms. Donadio was Americas Oil & Gas Sector Leader of Ernst & Young LLP, from which she retired in March 2014. Ms. Donadio joined Ernst & Young in 1976, serving since 1989 as audit partner for multiple companies in the oil and gas industry. She held various energy industry leadership positions until being named Americas Oil & Gas Sector Leader in 2007. In that role she was responsible for one of the firm’s most significant industry groups in the US and throughout the Americas. Ms. Donadio earned a Bachelor of Science degree in Accounting from Louisiana State University and is a licensed certified public accountant in the State of Texas.

With the appointment of Ms. Donadio, National Oilwell Varco’s board is now comprised of ten directors, eight of whom are external and independent.

NOV also announced that NOW Inc. has filed its amended Form 10 with the Securities and Exchange Commission. Copies of the document are available on the NOV website. The company anticipates the spin will be completed in the second quarter of 2014.

Source: NOV, Inc.

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