Transocean announces Steven Newman as new CEO

Transocean announced that Steven L Newman will succeed Robert L Long as CEO on 1 March 2010. In keeping with company traditions, Mr Long will also be resigning from the company’s Board of Directors effective 28 February 2010.

“After 35 years of dedicated service to the company, Bob’s legacy is the creation of the world’s leading offshore drilling company with an outstanding management team, excellent business processes and solid financial performance,” said Bob Rose, chairman, Transocean. “The board and all Transocean employees are proud of the accomplishments Bob has achieved during his tenure with the company, and wish him well as he enters retirement.”

Mr Long also served as chairman of IADC in 2007.

Mr Newman will be included on the company’s annual meeting agenda in May as a candidate for election as a member of the Board of Directors. He has served as president and chief operating officer since May 2008. He previously served in various senior management roles, including executive vice president of performance; executive vice president and chief operating officer; senior vice president of human resources, information process solutions, and treasury; and vice president of performance and technology. He has also served in international field and operations management positions, including project engineer, rig manager, division manager, region marketing manager, region operations manager and region manager.