Hercules Offshore, Inc. (HERO) announced that Chairman John Reynolds submitted his resignation from the company's board of directors, effective December 31, 2009, and Thomas Bates, Jr., will assume the role of Chairman upon Reynolds departure.
Bates has extensive management experience during his long career in the oilfield services industry, having served as President of the Discovery Group of Baker Hughes Inc., President and Chief Executive Officer of Weatherford/Enterra, Inc., and as President of Anadrill at Schlumberger Limited, among other positions, the company said.
The company stated that in connection with Reynolds' resignation, the Board of Directors also resolved to reduce the size of the board from ten directors to nine, effective as of December 31, 2009.
The Board of Directors also set the date of its 2010 annual meeting of stockholders as May 11, 2010, and nominated the slate of directors who will stand for election at the meeting. These nominees are Suzanne Baer, Thomas Bates, Jr., Thomas Hamilton, Thomas Madonna, and Thierry Pilenko.
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