Top executive resigns after overstating educational credentials - KLFY News 10

Top executive resigns after overstating educational credentials

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Efforts by a family owned and world renowned oil field service company to go public on the New York Stock Exchange hit a bump in the road this week. It was learned one of its senior executive officers lacked the educational credentials he claimed to have.

Franks International, a subsidiary of Franks Casing Crew and Rental in Lafayette, admitted this week long time employee Robert Gilbert has resigned his position as a senior executive officer in charge of its U.S. services and pipe operation.

The resignation comes after it was learned Gilbert overstated his educational credentials when he claimed to have a masters degree. Gilbert has now taken what's described as a non-executive position with the company.

According to documents filed with the SEC, the company says it doesn't believe Gilbert's misstatements about his educational credentials has any bearing on the accuracy of its disclosure or the integrity of its operations and management.

Franks International is still on track to go public. But the Mosing family will still retain a controlling interest in the company.

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