Jean Riboud

Jean Riboud (15 November 1919 – 20 October 1985) was a French socialist and corporate executive. He was the chairman of Schlumberger, the largest oilfield services company in the world. He was a member of the French Resistance during World War II and suffered incarceration in Buchenwald concentration camp of the Nazis. His contributions were reported in making Schlumberger into the market leader in oilfield services sector. The Government of India awarded him the third highest civilian honour of the Padma Bhushan, in 1986, for his contributions to society.

Biography

Riboud, born on 15 November 1919 in the French city of Lyon to a banker, graduated from the École des Sciences Politiques, Paris in 1939. He was involved with politics from his student years and was a supporter of the Popular Front coalition government of Leon Blum. Later, he started his career as a lieutenant in the French Army and after serving the army for a while, he joined the French Resistance. It was during this period he was captured by the Nazis and was sent to Buchenwald concentration camp where spent two years, suffering from tuberculosis, before escaping from there with help from the communists. When the war ended, he pursued a career in banking by joining Andre Istel and Company, a private investment banking firm owned by a friend of his father, and this gave him an opportunity to visit United States in 1946 for opening an office of his bank in New York. and later, as the chief executive of the company in 1965. Seven years later, he became the chairman of the group, in 1972. By the time he relinquished his position to his successor, Michel Vaillaud, in 1985, the company had a net profit of I.2 billion on a revenue of 6.4 billion and had presence in over 100 countries, controlling the operations of 70 percent of the world's oil wells. At that time, the company employed 80,000 people, held 10.9 billion in assets The Government of India honored him with the civilian award of the Padma Bhushan in 1986. as well as in his autobiography, Jean Riboud, published in 1989.