Nabors Industries Announced that Martin J. Whitman Intends to Retire from its Board of Directors (NBR)

Nabors Industries NBR today announced that Martin J. Whitman intends to retire from its board of directors at the conclusion of his current term, which expires at the Company's annual general meeting of shareholders on June 7, 2011.  Mr. Whitman has served as a director since 1991 and as Lead Director since 2002. Nabors also announced that the Board has appointed John Yearwood to succeed Mr. Whitman in his roles as Lead Director and on each of its Audit, Compensation and Executive Committees upon Mr. Whitman's retirement.  Mr. Yearwood served in senior executive roles at Schlumberger Limited and, most recently, as Chief Executive Officer of Smith International, Inc. until its sale to Schlumberger.