Silicon Valley-based prefab housing company Katerra has appointed the former boss of oilfield technology giant Schlumberger as its chief operating officer, a new post.
Paal Kibsgaard, previously chairman and chief executive of Schlumberger, will oversee the development of new construction technologies as the company expands its manufacturing base.
Reporting to Katerra co-founder and chief executive Michael Marks, Kibsgaard will also be responsible for expansion beyond the US, Middle East, and India, the company said.
A petroleum engineer with a master’s degree from the Norwegian Institute of Technology, Kibsgaard was named best CEO in Oilfield Services and Equipment by Institutional Investor Magazine each year from 2016 to 2019.
"Paal is one of the best operating executives I have ever met," said Michael Marks. "With Katerra recently passing its fourth anniversary, we have built a solid foundation for future growth. Paal’s appointment marks a new phase for the company, and under his guidance, we will accelerate our work to transform construction through technology."
"Katerra is building a truly unique company to lead the overdue transformation of the global construction industry," Kibsgaard said. "I am excited to join Katerra and to become part of a very strong management team. By successfully executing on our mission, we can make quality construction more available to a larger population around the world."
Founded in 2015 by a group of real estate and electronics chiefs, Katerra aims to disrupt the construction industry by integrating design, component manufacturing, and site assembly together under its digital platform, and claims to have $3.7bn worth of building orders so far.
Image: Katerra aims to disrupt the construction industry by integrating design, component manufacturing, and site assembly together under its digital platform (Katerra)