Diamond Offshore CEO to Step Down

Longtime president and CEO Lawrence Dickerson has decided to retire from contract deepwater driller Diamond Offshore Drilling (NYSE: DO  ) by early next year, the company announced today. A successor to Dickerson is expected to be named by March 31, 2014.

Commenting on his decision to retire after more than three decades with the company, Dickerson said in a statement, "Our achievements reflect the contributions of a great many men and women, and I believe that after 34 years at Diamond and 15 as President, it is time to pass the reins to a new generation."

Dickerson will remain in his post as president and CEO until a successor is found, Diamond Offshore said, to assist with the transition. The company has secured the services of an executive recruiting firm to help in its search for a new leader.

Diamond Offshore services the energy industry, utilizing its fleet of 30 semisubmersible rigs, seven jack-ups, and one drillship. Additionally, Diamond Offshore is currently constructing four ultra-deep drillships and two deepwater submersibles.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2651916, ~/Articles/ArticleHandler.aspx, 12/21/2014 11:24:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement