Weatherford Drops COO Role Amid Oil Slump

Oil services company Weatherford International Plc said it would eliminate the position of chief operating officer as it copes with a 60 percent slide in global crude oil prices.

The company said COO Dharmesh Mehta would move to the role of executive vice president for corporate strategy.

The chief operating officer position will not be filled as the company adopts a flatter management structure, Weatherford said in a regulatory filing on Wednesday.

Reporting by Swetha Gopinath