Jean Riboud, Legendary Oil Executive
NEW YORK (AP) _ Jean Riboud, a French Resistance fighter who survived Buchenwald concentration camp and became a legendary oil industry executive, has died after suffering from cancer for more than a year, Schlumberger Ltd. said today. He was 65.
Riboud had stepped down as chairman of Schlumberger on Sept. 11, after his condition worsened. He had been chief executive of the company for more than 20 years and was responsible for building it into the world’s leading oilfield services business.
Under Riboud, Schlumberger often was praised as being one of the best managed businesses in the world.
Schlumberger announced at its New York headquarters that Riboud died Sunday at his home in Paris. He is survived by his wife, Krishna, a son, Christophe, and three grandchildren.
Riboud was a lieutenant in the French Army in the early part of World War II. He later joined the French Resistance, was taken prisoner and survived two years at Buchenwald before he was released by American forces in May 1945.
He joined Schlumberger is May 1951 as an assistant to Marcel Schlumberger, a co-founder of the group. He was named president and chief executive in May 1965 and became chairman of the board in March 1972.
Michel Vaillaud, who succeeded Riboud as chairman last month, recalled in a recent interview that during Riboud’s reign as chief executive, Schlumberger’s profit soared almost 44 times and revenue increased nearly 20 times.