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AI brief of an SEC Form 8-K · NOV (NOV)

NOV CEO Clay Williams to retire; Jose Bayardo to become chairman and CEO January 1

Neutral Impact 4 of 5 leadership Written later

NOV Inc. said Chairman and CEO Clay Williams will resign from the board effective January 1, 2026 and retire February 28, 2026. President and COO Jose Bayardo will succeed him as Chairman, President and CEO on January 1, 2026, with a base salary increase to $950,000 and his target bonus raised to 125% of salary. The change is a planned CEO succession, and the filing states no dispute with the board led to the resignation.

Key points

  • Clay Williams resigns from the board effective January 1, 2026 and retires February 28, 2026; he will advise the company until retirement.
  • Jose Bayardo, 54, becomes Chairman, President and CEO effective January 1, 2026; he has been President and COO since March 2025.
  • Bayardo's base salary rises to $950,000 and his target bonus rises from 100% to 125% of base salary, effective January 1, 2026.
  • Bayardo joined NOV in 2015 as Senior Vice President and CFO; the filing states Williams' resignation is not due to any dispute with the company or board.

The filing

CompanyNOV (NOV)
Form8-K, current report
Filed with the SECNov 20, 2025, 7:51 AM ET
Accession number0001193125-25-288885

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 20, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.