Production Enhancement Group has concluded its search for a new Chief Executive Officer. Don Cobb, currently President and COO of Wise Well Intervention Services, Inc., the Company's principal operating subsidiary, has been appointed as CEO and a Director of PEG. Mr. Cobb's role will encompass setting the strategic direction of PEG as well as managing and executing this strategy.
Cobb's previous roles included serving as Executive Vice President of Boots and Coots Services. In addition, he spent 22 years with Baker Hughes Incorporated in various capacities within well servicing where he had annual revenue responsibilities ranging from US$20 million to US$300 million.
Clifford McFarland, Chairman of the Special Committee formed to identify a new CEO for the Company, said PEG is excited to have Mr. Cobb rise to the role of CEO. "In a short time, Don has implemented significant improvements within WISE's core operations, focusing on operating efficiency and organizational effectiveness," Mr. McFarland said. "As we enter 2008, we expect Don to provide the leadership necessary to accelerate our growth plan."
In addition, the Board of Directors has appointed a new Canadian director, Dean Zipse of Calgary, Alberta. Mr. Zipse has extensive oilfield services experience in both in the United States and Canada, and has been actively involved in the development and marketing of new technologies for the Energy Industry. Mr. Zipse currently serves as VP Sales and Marketing of Flexpipe Systems and has held key roles at Tesco Corporation. He was also a founding partner in what is now Wellco Energy Services Trust.
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