Basic Energy Services President and CEO Ken Huseman will leave the company at the end of 2013 to enter retirement. He is to be replaced by Roe Patterson, currently the chief operating officer and a senior vice president at the firm. Patterson is to ascend to the CEO post "on or about" next Jan. 1, BES said in a press release.

Huseman has been the company's CEO for more than 14 years. His replacement is also a veteran BES executive; Patterson joined the company in 2006 and advanced through the ranks to become COO in March 2011. Immediately previous to his time at BES, he served as president of manufacturing and oilfield service concern TMP Companies.

The article Basic Energy Services CEO to Retire at Year End originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Basic Energy Services. The Motley Fool has no position in Basic Energy Services. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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