Olivier Le Peuch

Olivier Le Peuch
Born	Template:Birth year and age
Birthplace	France
Nationality	French
Occupation	Business executive
Title	Chief Executive Officer, SLB
Known for	CEO of SLB (formerly Schlumberger), the world's largest oilfield services company
Education	University of Bordeaux
Website	[https://www.slb.com/who-we-are/executive-management/olivier-le-peuch Official site]

Olivier Le Peuch (born 1963 or 1964) is a French business executive who has served as the chief executive officer (CEO) of SLB (formerly Schlumberger Limited), the world's largest oilfield services company, since August 1, 2019. A career Schlumberger employee who spent more than three decades rising through the company's ranks, Le Peuch took the helm of the Houston-headquartered multinational at a period of significant transition for the global oil and gas industry. He succeeded Paal Kibsgaard, who had led the company since 2011, and became only the tenth chief executive in Schlumberger's nearly century-long history. Since assuming the role, Le Peuch has guided SLB through the severe oil market downturn triggered by the COVID-19 pandemic, overseen the company's rebranding from Schlumberger to SLB, pursued a strategy emphasizing digital transformation and decarbonization, and navigated evolving geopolitical complexities in markets ranging from North America to Venezuela and the Middle East.

Early Life

Olivier Le Peuch was born in France in approximately 1963 or 1964. Details about his upbringing, family background, and early years have not been extensively documented in public sources. Le Peuch grew up in France before pursuing higher education and subsequently joining the oilfield services industry, where he would spend his entire professional career.

Education

Le Peuch attended the University of Bordeaux in France, where he studied electrical engineering and electronics. His technical educational background provided the foundation for his early career in the oilfield services sector, beginning in Schlumberger's technology and engineering divisions. The University of Bordeaux, one of France's leading public research universities, has a long history of producing graduates in the sciences and engineering fields.

Career

Early Career at Schlumberger

Le Peuch joined Schlumberger in the mid-1980s and spent more than three decades working in various technical, operational, and leadership roles across the company's global operations. His early positions were rooted in the company's technology and engineering segments, where he developed expertise in oilfield services and the technical aspects of hydrocarbon exploration and production. Over the course of his career, Le Peuch held positions of increasing responsibility across multiple geographies and business lines, gaining experience in the company's operations in diverse markets around the world.

Le Peuch's career trajectory took him through several of Schlumberger's key divisions. He held leadership roles in the company's Cameron Group, which Schlumberger acquired in 2016, as well as in its reservoir characterization and drilling operations. His progression through the company was characterized by a broad operational background that encompassed both technical and commercial responsibilities.

Rise to Senior Leadership

Prior to his appointment as CEO, Le Peuch served as Schlumberger's chief operating officer (COO), a position that placed him in charge of the company's day-to-day global operations. In this role, he oversaw the company's extensive portfolio of oilfield services, including drilling, reservoir characterization, and production operations spanning more than 120 countries. His time as COO was viewed as a proving ground for the top leadership position, and he was widely seen within the company as a likely successor to Kibsgaard.

In April 2019, Bloomberg News reported that Schlumberger was leaning toward selecting Le Peuch as its next chief executive, citing sources familiar with the company's succession planning process. The report noted that Le Peuch had emerged as the frontrunner among internal candidates to succeed Kibsgaard, who had signaled his intention to step down from the role.

Appointment as CEO

On July 19, 2019, Schlumberger officially announced that Le Peuch would succeed Paal Kibsgaard as CEO, effective August 1, 2019. Kibsgaard had served as CEO since 2011 and as chairman since 2015. The leadership transition was described by Reuters as a planned succession, with Le Peuch's appointment reflecting the company's preference for promoting from within its executive ranks.

Le Peuch inherited a company that, while profitable, was operating in a challenged sector. The Houston Chronicle reported at the time of his appointment that Schlumberger remained the largest oilfield services company in the world by revenue but faced headwinds including depressed oil prices, reduced capital spending by exploration and production companies, and increasing pressure from investors to demonstrate returns. The oilfield services industry had undergone a prolonged downturn since the oil price crash of 2014–2016, and recovery had been uneven.

As CEO, Le Peuch articulated a strategic vision focused on capital discipline, technology differentiation, and expanding the company's digital capabilities. He also emphasized the importance of international markets, where Schlumberger had historically derived the majority of its revenue, as a counterbalance to the more volatile North American market.

Leadership During the COVID-19 Pandemic

Le Peuch's early tenure as CEO was significantly shaped by the COVID-19 pandemic, which struck in early 2020 and caused an unprecedented collapse in global oil demand. Oil prices briefly turned negative in April 2020, and exploration and production companies around the world slashed spending, directly impacting oilfield services firms. Schlumberger, under Le Peuch's leadership, responded with significant cost-cutting measures, workforce reductions, and asset impairments as it sought to navigate the crisis.

The pandemic period tested Le Peuch's leadership and forced a reassessment of the company's strategic priorities. Under his direction, Schlumberger accelerated its focus on digital solutions and technology-driven efficiency, which Le Peuch positioned as critical differentiators in a lower-spending environment.

Rebranding to SLB and Strategic Transformation

One of the most visible changes during Le Peuch's tenure was the company's rebranding from Schlumberger to SLB in October 2022. The name change, which Le Peuch oversaw, was part of a broader strategic repositioning that sought to reflect the company's expanding focus beyond traditional oilfield services to include digital technology, decarbonization solutions, and new energy ventures. The company retained its NYSE ticker symbol "SLB" and its legal name, Schlumberger Limited, but adopted SLB as its public-facing brand.

Le Peuch also pursued strategic acquisitions to strengthen SLB's portfolio. In 2024, the company completed its acquisition of ChampionX, a chemical solutions provider for the oil and gas industry, in a deal that expanded SLB's production-related offerings.

Recent Business Performance and Market Outlook

Under Le Peuch's leadership, SLB has navigated a complex and evolving global energy landscape. In the third quarter of 2025, the company reported profits that beat analyst estimates despite a decline from the prior year, with Le Peuch noting that North America helped support revenue even as international markets faced headwinds. Le Peuch stated that SLB did not expect to see a significant pickup in North American drilling activity due to high production costs at some shale basins.

In July 2025, Le Peuch described the company's outlook for the second half of the year as "constructive," expressing confidence in the resilience of the oil services industry despite uncertainty about global demand.

By January 2026, Le Peuch signaled a more optimistic tone, stating that the worst may be behind the global oil market. This assessment came amid a period of cautious recovery in global oil markets and stabilizing capital expenditure by exploration and production companies.

Geopolitical Engagements: Venezuela

Le Peuch has also navigated geopolitical complexities in various markets. In January 2026, he stated that SLB was ready to "rapidly ramp up" its operations in Venezuela under the right conditions, following changes in the political landscape there. The comments came in the context of the Trump administration's push for increased oil production and the easing of certain sanctions, though major U.S. oil companies remained cautious about returning to the country due to operational and political risks.

SLB has historically maintained operations in Venezuela, one of the world's most oil-rich nations, and Le Peuch's comments reflected the company's strategic interest in expanding its presence there should conditions become favorable.

CEO Compensation

Le Peuch's compensation as CEO of SLB has been the subject of public reporting. According to an Associated Press analysis of CEO pay and worker compensation ratios, Le Peuch was among the executives at major publicly traded companies whose pay packages were examined as part of broader scrutiny of executive compensation in the United States.

In January 2026, Le Peuch sold 25,000 shares of SLB common stock valued at approximately $1.26 million, according to regulatory filings.

Personal Life

Olivier Le Peuch maintains a relatively private personal life. He is a French national who has spent the majority of his career working internationally. SLB is headquartered in Houston, Texas, where the company has maintained its operational base. Le Peuch has given interviews and made public appearances primarily in the context of his role as CEO, discussing industry trends, company strategy, and energy policy matters. Beyond these professional engagements, limited information about his personal life has been publicly documented.

Recognition

Le Peuch's leadership of SLB has been covered by major financial and energy industry publications, including Reuters, Bloomberg, the Houston Chronicle, and specialized trade outlets such as Upstream Online, Rigzone, and the Journal of Petroleum Technology. As head of the world's largest oilfield services company, Le Peuch is regularly consulted and quoted as a leading voice on the state of the global energy industry, oil market trends, and the transition toward cleaner energy technologies.

His role at SLB positions him as one of the most prominent executives in the global energy services sector, overseeing a company with operations in more than 100 countries and a workforce of tens of thousands of employees. The company's quarterly earnings calls, at which Le Peuch provides commentary on market conditions and company strategy, are closely followed by investors, analysts, and industry observers as bellwethers for the broader oilfield services industry.