The Board of Directors at Helmerich & Payne, Inc. (NYSE: HP) announced that Chief Executive Officer John Lindsay will retire as CEO and director after the company’s Annual Meeting of Stockholders on March 4, 2026. Raymond John “Trey” Adams, currently serving as President, has been selected to succeed Lindsay as CEO. Adams is also nominated for election to the Board at the upcoming meeting. Following his retirement from these roles, Lindsay will remain with the company as a senior advisor through December 2026 to help ensure a smooth leadership transition.
Hans Helmerich, Chairman of the Board, stated, “We are pleased to announce Trey’s promotion to CEO. This is the next logical step in the company’s succession process that has been underway for several years. Trey brings proven operational excellence, leadership skills and a clear vision for innovation and growth. He embodies the H&P Way and the future of our company.”
Adams expressed appreciation for his new role by saying, “I am grateful for the trust the Board has placed in me and honored to follow John’s leadership. John has successfully guided H&P through some of the most important chapters in our history, and his impact will be felt for years to come. Our focus remains the same: our people, safety, performance, technology and partnership with our customers. I am excited for what we will achieve together in the years ahead.’”
Adams has held various positions across Helmerich & Payne’s business segments and led programs that integrate drilling expertise with technology aimed at customer value creation. As he steps into his role as President and CEO, Adams plans to continue emphasizing performance, safety, partnerships with customers, disciplined growth strategies and financial execution focused on long-term shareholder value.
Helmerich also highlighted Lindsay’s contributions during his time as CEO: “John has been an exemplary leader for H&P,” he said. “He successfully guided the company through challenging cycles and major transitions. His integrity and steady leadership strengthened H&P and helped shape the culture that defines us today. We are grateful for his service and the lasting impact he has made.”
Lindsay served as CEO for 12 years during which he navigated multiple industry cycles including a global pandemic while reinforcing company culture and financial discipline. He played a key role in transforming U.S. shale development by making strategic investments in rigs and technology such as advancing FlexRig—a design that set new standards in land drilling performance—and expanding H&P’s international presence. Under Lindsay’s leadership, technology became central to operations; he led acquisitions of five technology companies which modernized capabilities within Helmerich & Payne.
Reflecting on his tenure, Lindsay commented: “It has been an honor to serve as CEO. I am proud of our people and confident in H&P’s future. Trey is ready for this role and the leadership team is strong. I look forward to supporting a smooth transition.”
