Mitcham Industries Inc.’s (NASDAQ: MIND) president and CEO, Billy F. Mitcham Jr., has passed away. Mitcham, the original founder of the company, served as president and CEO from 1987 until his untimely and unexpected death.
During his more than 35-year tenure at Mitcham Industries, he was instrumental in building the company into its present-day status as an independent lessor of advanced seismic equipment to the global seismic industry. Robert Capps and Guy Malden, who were recently promoted to co-COOs of the company, will become interim co-CEOs, effective immediately.
Peter H. Blum, chairman of Mitcham Industries, commented, "It is with great sadness that we mourn the passing of Bill Mitcham. Bill was a great leader with a strong strategic vision and a wonderful and trusted friend to all who knew him. His knowledge of the seismic industry was second to none, and he was universally respected both within our company and in our industry. Our thoughts and prayers are with the Mitcham family."
Mitcham Industries Inc., a geophysical equipment supplier, offers for lease or sale, new and "experienced" seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. Headquartered in Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Singapore; Ufa, Bashkortostan, Russia; Budapest, Hungary; Lima, Peru; Bogota, Colombia and the United Kingdom, Mitcham conducts operations on a global scale and claims to be the largest independent exploration equipment lessor in the industry. Through its Seamap business, the company designs, manufactures, and sells specialized seismic marine equipment.