Halliburton CEO Dave Lesar today announced they’re moving the headquarters from Texas to the United Arab Emirates. From the Washington Post:
Lesar’s announcement appears to signal one of the highest-profile moves by a U.S. corporate leader to Dubai, an Arab boomtown where free-market capitalism has been paired with some of the world’s most liberal tax, investment and residency laws.
“The eastern hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton’s overall portfolio,” Lesar said.
Looks like they can’t participate in our “Worst Company in America” contest next year, the penultimate rounds of which begin tomorrow. — BEN POPKEN