Parker Drilling announces the retirement of Robert L. Parker Jr.

Parker Drilling announces the retirement of Robert L. Parker Jr.

HOUSTON -- Parker Drilling has announced that Robert "Bobby" L. Parker Jr. will retire as an employee of the company, effective December 31, 2013.

Parker will continue to serve as chairman of the company's board of directors until the annual meeting of stockholders to be held in 2014, at which time Gary G. Rich, the company's CEO, will be nominated to serve in that role and Parker will be nominated to stand for re-election to the board for an additional three-year term.

Parker's retirement culminates a long, successful and notable career, including 18 years as president and CEO of Parker Drilling.  During his tenure, Parker established the company as a respected trailblazer and leader in responsibly accessing remote and challenging frontiers in energy exploration and development.  Under his guidance, the company was instrumental in creating innovative new technologies and operational procedures that advanced the drilling profession and continue to benefit the global oil and gas industry today.

"Words cannot adequately express our gratitude to Bobby for the vision and energy he brought to the company each and every day for over 40 years," said Roger Plank, lead director of Parker Drilling's board.