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- Departure of CEO (new) — CEO retiring after 30-year tenure with no apparent internal successor, requiring external search process.
RPC CEO Ben Palmer to retire by year-end; board launches external search for successor
Filed June 23, 2026 · Period ending June 16, 2026 · ~1 min read
Key Changes
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CEO Ben Palmer announced retirement effective when successor named or Dec 31, 2026, after 30 years with RPC including CEO since 2022 and CFO from 1996. Will transition to advisory role to support leadership handoff.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Board accepted retirement notice and will engage independent executive search firm to find next CEO, indicating no internal succession plan was in place. Search expected to conclude before year-end 2026.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Search criteria focus on candidates with proven operational excellence in oilfield services, growth orientation, and commitment to maintaining RPC's financial strength and low-leverage balance sheet.
Exhibit 99.1 view on EDGAR →
Summary
RPC disclosed that CEO Ben Palmer will retire by December 31, 2026, or earlier if a successor is named, after a 30-year career with the company. Palmer served as CFO and Treasurer for over two decades starting in 1996 before becoming CEO in 2022.
The board's decision to engage an independent executive search firm signals that no internal succession plan was ready, introducing leadership uncertainty during the transition period. The CEO departure is a material concern for a mid-cap oilfield services company navigating cyclical industry dynamics.
Palmer's tenure emphasized financial discipline—maintaining a strong, low-leverage balance sheet and generating free cash flow—while recently diversifying toward higher-margin service lines and expanding Permian Basin operations. The external search for a candidate with "operational excellence" and "growth focus" suggests the board may be seeking a different strategic emphasis than Palmer's conservative financial approach. Investors should monitor whether the new CEO maintains RPC's balance sheet strength or pursues more aggressive growth strategies, and how the transition affects client relationships and operational continuity through year-end.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 16, 2026, Ben M. Palmer, Director, President, and Chief Executive Officer of RPC, Inc. (the “Company”), notified the Company of his decision to retire as Director, President, and Chief Executive Officer, effective on the earlier of a successor being named or December 31, 2026, after which he will remain in an advisory capacity to support the transition of leadership.
Ben M. Palmer announced his retirement as CEO, President, and Director, effective when a successor is named or by December 31, 2026, whichever comes first. He will remain in an advisory role after retirement to support leadership transition, though terms of that arrangement are not yet determined.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Ben M. Palmer plans to retire from his role as President and CEO, and step down from the Board of Directors of RPC by the end of 2026, following 30 years with the Company. Accordingly, the Board of Directors has initiated a search for Mr. Palmer’s successor, which is expected to conclude before the end of 2026. Mr. Palmer will continue serving in his role until the earlier of a successor being named or December 31, 2026, after which he will remain in an advisory capacity to ensure continuity and support a smooth leadership transition.
RPC's President and CEO Ben M. Palmer is retiring by December 31, 2026, after 30 years with the company, including serving as CEO since 2022 and CFO/Treasurer from 1996. The Board has initiated a formal search for his successor, expected to conclude before year-end. Palmer will continue in his current role until a successor is named or December 31, 2026, whichever comes first, then transition to an advisory role.
Added in current filing · view on EDGAR →
Mr. Palmer has served as President and CEO of RPC since 2022, following more than two decades as Chief Financial Officer and Treasurer beginning in 1996. For 30 years, Mr. Palmer has helped guide RPC through multiple industry dynamics with a consistent emphasis on preserving a strong, low-leverage balance sheet, generating durable free cash flow, and returning capital to shareholders. As CEO, he has also overseen the continued diversification and balancing of RPC’s portfolio toward higher-margin services lines, deepened the Company’s presence in the Permian Basin, and delivered profitability and long-term shareholder value.
Palmer served as CFO and Treasurer for over two decades starting in 1996 before becoming CEO in 2022. During his tenure, he focused on maintaining a strong balance sheet with low leverage, generating free cash flow, and returning capital to shareholders. As CEO, he led portfolio diversification toward higher-margin service lines and expanded the company's Permian Basin presence.
Added in current filing · view on EDGAR →
The Board of Directors has initiated a formal search to identify RPC’s next CEO and intends to engage a leading independent search firm to assist in the process. The search will focus on candidates who have a proven record of operational excellence in oilfield services combined with a focus on growth, while maintaining the financial strength RPC is known for.
The Board will engage an independent search firm to find Palmer's successor. The search criteria emphasize candidates with proven operational excellence in oilfield services, a growth focus, and commitment to maintaining RPC's financial strength. This indicates the Board is seeking external expertise to identify qualified candidates.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 25, 2026 · How we verify