HOUSTON, Jan. 16 /PRNewswire-FirstCall/ — Input/Output, Inc. (NYSE: IO)
today announced that C. Robert Bunch, formerly the Company’s Vice President
and Chief Operating Officer, has been promoted to President and will serve as
I/O’s principal executive officer until the company’s Board of Directors
selects a new Chief Executive Officer. I/O’s Board of Directors has
established a special committee headed by James M. Lapeyre, Jr., I/O’s
Chairman, to consider a permanent replacement for Tim Probert, who announced
his retirement on December 10, 2002. The Special Committee of the Board has
retained Spencer Stuart to identify and evaluate candidates for the Chief
Executive Officer position. The Board anticipates considering both internal
and external candidates, including Mr. Bunch, for the CEO position and making
a final selection by the end of February.
Input/Output, Inc. is an industry leader in seismic acquisition imaging
technology for land, marine, transition zone exploration, production and
reservoir monitoring. The Company specializes in technology that creates
value for the energy industry in the areas of 2D, 3D, 4D and multi-component
seismic data. Additional information on Input/Output, Inc. is available on
the Internet at www.i-o.com or contact us at email@example.com .
The information included herein contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Actual results may vary fundamentally
from those described in these forward-looking statements. All forward-looking
statements reflect numerous assumptions and involve a number of risks and
uncertainties. These risks and uncertainties include success of the Company’s
business reorganization, and dependence on key personnel. Additional risk
factors which could affect actual results are disclosed by I/O from time to
time in its filings with the Securities and Exchange Commission.
SOURCE Input/Output, Inc.
CONTACT: C. Robert Bunch, President of Input-Output, Inc.,