Offshore drilling contractor Atwood Oceanics, Inc. (ATW)named Monday Robert Saltiel president and chief executive officer, effective December 15, replacing John Irwin, the company's current president and chief executive officer.
Irwin, who has been the CEO of the company since 1993, retires at the close of business today, but will remain an employee of the company till July 31, 2010 to assist in the transition. He will continue to be a director till the end of his current term.
In his capacity as CEO, Saltiel will be responsible for the company's worldwide business and report to the board of directors. He has also been nominated for election to the company's board of directors at the annual meeting of shareholders to be held February 11, 2010.
Commenting on Saltiel's appointment, Hans Helmerich, chairman of the board, said, "we are pleased with Rob's decision to join Atwood. His strong operational experience around deepwater operations and his track record of working closely with customers will strengthen the Company's leadership position. He is an accomplished leader who has operated successfully in a range of key responsibilities and has a clear commitment to delivering shareholder value and stable, profitable growth."
Saltiel has over twenty years of experience in the energy industry, including general management, operations, commercial and strategic planning experience with organizations such as Exxon Mobil, Nabors Industries, McKinsey & Company and Transocean. Most recently, Saltiel was executive vice president and chief operating officer of Transocean Ltd.
ATW is trading at $35.09, up $0.71 or 2.07% on NYSE.
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