Offshore drilling contractor, Transocean Ltd. (RIG), Monday said it's executive vice President and Chief Operating Officer Rob Saltiel is leaving the company to pursue other opportunities.
Rob Saltiel, who joined Transocean in 2003, has been elected CEO and President of Atwood Oceanics, Inc. (ATW), also an offshore drilling contractor, effective December 15, 2009.
Saltiel will also be inducted to Atwood's board at the annual meeting of shareholders to be held February 11, 2010.
In November, Transocean had indicated it would elevate Newman to the position of Chief Executive Officer in early 2010 when the current CEO Bob Long retires.
Steven Newman, President of Transocean, will now assume responsibilities of Chief Operating Officer while the company considers alternatives.
Saltiel is leaving Transocean after completing a six-year stint, in which he handled several positions of increasing responsibilities. Before being elevated to the current position of Executive Vice President and Chief Operating Officer, he was the Executive Vice President of Performance and Senior Vice President of Transocean's then North and South America Unit, which covers the U.S. Gulf of Mexico, Canada, Trinidad and Brazil. He was earlier the Senior Vice President of Marketing and Planning.
Saltiel, in his new role of CEO at Oceanics, will be responsible for the company's worldwide business. He will be succeeding current President and CEO John Irwin, who will retire as of the close of the business today. Irwin , will continue with the company until July 31, 2010 to help with the transition.
RIG is currently trading at $80.79, up $0.52 or 0.65%, on a volume of 0.86 million shares.
For comments and feedback: editorial@rttnews.com