Transocean Ltd. (RIG) filed a Form 8K - Changes in Company
Executive Management - with the U.S Securities and Exchange
Commission on February 17, 2015.
(b) On February 15, 2015, Transocean Ltd. (the "Company") issued
a press release announcing that Steven Newman and the Board of
Directors (the "Board") have mutually agreed to Mr. Newman stepping
down as President and Chief Executive Officer of the Company,
effective February 16, 2015. Additionally, effective February 16,
2015, Mr. Newman has elected to resign as a Director of the
Company.
(c) Effective February 16, 2015, Ian Strachan, current Chairman
of the Board of Directors of the Company, has been selected to
serve as the Company's Interim Chief Executive Officer until a
permanent replacement is named. Mr. Strachan will continue to serve
as Chairman of the Board of Directors while serving as Interim
Chief Executive Officer. Mr. Strachan, age 71, has served as a
director of the Company since 1999 and as Chairman of the Board of
Directors since 2013. Mr. Strachan served as a director of
Caithness Petroleum Ltd. from 2008 to 2013, Xstrata plc from 2003
to 2013, Rolls Royce Group plc from 2003 to 2013, Johnson Matthey
plc from 2002 to 2009 and as Chairman of the Board of Instinet
Group Incorporated from 2003 to 2005. Mr. Strachan served as Chief
Executive Officer of BTR plc from 1996 until 1999. From 1987 to
1995, Mr. Strachan was with Rio Tinto plc, serving as Chief
Financial Officer from 1987 to 1991 and as Deputy Chief Executive
Officer from 1991 to 1995. He was employed by Exxon Corporation
from 1970 to 1986. Mr. Strachan received his Master of Arts in
History in 1965 from Christ's College, Cambridge University, and
his Master of Public Affairs in 1967 from the Woodrow Wilson
School, Princeton University and was a teaching fellow and Ph.D.
candidate at Harvard University from 1969 to 1970.
The Company's press release is filed as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000012/rigagmandexecutivedeparture.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000012/0001451505-15-000012-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
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