Transocean LTD (NYSE:RIG) Appoints Jeremy D. Thigpen As CEO

Transocean LTD (NYSE:RIG) disclosed that it appointed Jeremy D. Thigpen as Chief Executive Officer and President effective April 22, 2015. He succeeds Ian C. Strachan who served as Interim CEO. As previously stated, Mr. Strachan, the Chairman of the Board of Directors, intends to retire from the Board at the 2015 Annual General Meeting. He has been with the company from past sixteen years.

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The details

Before joining Transocean, Mr. Thigpen served on various profiles at National Oilwell Varco. He has been the Chief Financial Officer and Senior VP of the company since 2012. Moreover, he was President of Downhole and Pumping Solutions operations from 2007 until 2012. He also served as President of Downhole Tools group from 2003 to 2007. Thigpen associated with National-Oilwell, Inc. in 1997 and, served in numerous management and business development roles, including Special Assistant to the Chairman and Director of Business Development.

The management view

Strachan said that Thigpen is an exceptionally talented and experienced executive who brings to Transocean extensive experience and an innovative perspective on the industry. As evidenced by the collective support of the Board, he is the right person to join the company. He holds a strong track record of value enhancement and fully embraces the company’s business philosophy. It includes the Transocean commitment to safety as well as operational excellence. The business philosophy highlights respect for employees, suppliers and customers; honesty and integrity; and also financial discipline. He further added that the company is fortunate to have Thigpen join the team in the Chief Executive role.

The honor

Expressing his views on the new role, Mr. Thigpen stated that he is truly humbled, excited and honored to have been selected to direct one of the most renowned franchises in the industry. He look forward to work in association with management team, customers and employees, to reinforce and continue to increase Transocean`s leading position among offshore drillers.

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John is a special projects and general assignment reporter, noted for breaking several exclusive stories.

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