Article: Mack Ponder retires from Ponder Industries; Larry Armstrong named chairman, CEO.

ALICE, Texas--(BUSINESS WIRE)--April 9, 1996--Ponder Industries Inc. (NASDAQ, NM: PNDR, BSE:PND) announced today that Mack Ponder retired as chairman, chief executive officer and a director of Ponder Industries, effective April 4, 1996, but will continue as a consultant to the company and has been named Chairman Emeritus.

Ponder has been succeeded as chairman and CEO by Larry Armstrong, who will also retain his present positions as president and chief operating officer, which he has held since joining Ponder Industries in July 1995. "Mack Ponder is a legend in our industry, and we take ...

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