After careful consideration, Jerry Fanska, Layne's SVP Finance, and Jeff Reynolds, EVP and COO, have decided not to relocate to Houston. Mr. Fanska has announced his retirement from Layne. He has agreed to remain with Layne until his successor is named, and to assist in the transition of responsibilities and the company's relocation to Houston. Mr. Reynolds will resign his positions effective January 1, 2013. Mr. Reynolds will remain a member of the Board of Directors. Mr. Reynolds's responsibilities will be assumed by veteran Layne executives David Singleton and Gernot Penzhorn.