Transocean Ltd. Announces CEO Succession Plan
Transocean (NYSE: RIG) announced key leadership changes as part of its succession plan. Keelan Adamson, current President and Chief Operating Officer, will become President and CEO during Q2 2025, succeeding Jeremy Thigpen who has led the company since 2015.
Adamson, who has been with Transocean for three decades, will be nominated to join the Board of Directors at the 2025 annual meeting. Thigpen will transition to Executive Chair of the Board, while current Chair Chad Deaton will become Lead Independent Director.
Adamson has served various roles since joining in 1995, including Executive VP, Senior VP of Operations, and VP of Human Resources. He holds a bachelor's degree in Aeronautical Engineering and completed Harvard Business School's Advanced Management Program. His priorities as CEO will focus on optimizing operations, meeting customer objectives, and reducing debt to enhance shareholder value.
Transocean (NYSE: RIG) ha annunciato importanti cambiamenti nella leadership come parte del suo piano di successione. Keelan Adamson, attuale Presidente e Chief Operating Officer, diventerà Presidente e CEO nel secondo trimestre del 2025, succedendo a Jeremy Thigpen che guida l'azienda dal 2015.
Adamson, che è con Transocean da tre decenni, sarà nominato per entrare nel Consiglio di Amministrazione durante l'assemblea annuale del 2025. Thigpen passerà a Presidente Esecutivo del Consiglio, mentre l'attuale Presidente Chad Deaton diventerà Direttore Indipendente Principale.
Adamson ha ricoperto vari ruoli da quando è entrato nel 1995, tra cui Vice Presidente Esecutivo, Vice Presidente Senior delle Operazioni e Vice Presidente delle Risorse Umane. Ha conseguito una laurea in Ingegneria Aeronautica e ha completato il Programma di Management Avanzato della Harvard Business School. Le sue priorità come CEO si concentreranno sull'ottimizzazione delle operazioni, sul soddisfacimento degli obiettivi dei clienti e sulla riduzione del debito per migliorare il valore per gli azionisti.
Transocean (NYSE: RIG) anunció cambios clave en su liderazgo como parte de su plan de sucesión. Keelan Adamson, actual Presidente y Director de Operaciones, se convertirá en Presidente y CEO durante el segundo trimestre de 2025, sucediendo a Jeremy Thigpen, quien ha liderado la empresa desde 2015.
Adamson, quien ha estado con Transocean durante tres décadas, será nominado para unirse a la Junta Directiva en la reunión anual de 2025. Thigpen pasará a ser Presidente Ejecutivo de la Junta, mientras que el actual Presidente Chad Deaton se convertirá en Director Independiente Principal.
Adamson ha ocupado varios roles desde que se unió en 1995, incluyendo Vicepresidente Ejecutivo, Vicepresidente Senior de Operaciones y Vicepresidente de Recursos Humanos. Tiene una licenciatura en Ingeniería Aeronáutica y completó el Programa de Gestión Avanzada de la Harvard Business School. Sus prioridades como CEO se centrarán en optimizar las operaciones, cumplir con los objetivos del cliente y reducir la deuda para aumentar el valor para los accionistas.
Transocean (NYSE: RIG)은 후계 계획의 일환으로 주요 리더십 변화를 발표했습니다. Keelan Adamson, 현재 사장 겸 최고 운영 책임자(COO)는 2025년 2분기에 사장 겸 CEO로 취임하며, 2015년부터 회사를 이끌어온 Jeremy Thigpen의 뒤를 잇게 됩니다.
Adamson은 Transocean에서 30년을 근무해 왔으며, 2025년 연례 회의에서 이사회에 합류할 후보로 지명될 예정입니다. Thigpen은 이사회 의장직으로 전환하고, 현재 의장인 Chad Deaton은 수석 독립 이사가 될 것입니다.
Adamson은 1995년에 입사한 이후 여러 직책을 맡아왔으며, 여기에는 집행 부사장, 운영 수석 부사장 및 인사 부사장이 포함됩니다. 그는 항공우주 공학 학사 학위를 소지하고 있으며, 하버드 경영 대학원의 고급 관리 프로그램을 완료했습니다. CEO로서의 그의 우선 사항은 운영 최적화, 고객 목표 달성 및 주주 가치를 향상시키기 위한 부채 감소에 중점을 둘 것입니다.
Transocean (NYSE: RIG) a annoncé des changements clés au sein de sa direction dans le cadre de son plan de succession. Keelan Adamson, président et directeur des opérations actuel, deviendra président et PDG au cours du deuxième trimestre de 2025, succédant à Jeremy Thigpen, qui dirige l'entreprise depuis 2015.
Adamson, qui travaille chez Transocean depuis trois décennies, sera proposé pour rejoindre le conseil d'administration lors de l'assemblée annuelle de 2025. Thigpen passera au poste de président exécutif du conseil, tandis que le président actuel Chad Deaton deviendra directeur indépendant principal.
Adamson a occupé divers postes depuis son arrivée en 1995, y compris vice-président exécutif, vice-président senior des opérations et vice-président des ressources humaines. Il détient un diplôme de premier cycle en ingénierie aérospatiale et a suivi le programme de gestion avancée de la Harvard Business School. Ses priorités en tant que PDG se concentreront sur l'optimisation des opérations, la satisfaction des objectifs des clients et la réduction de l'endettement pour améliorer la valeur pour les actionnaires.
Transocean (NYSE: RIG) hat wichtige Führungswechsel als Teil seines Nachfolgeplans angekündigt. Keelan Adamson, derzeit Präsident und Chief Operating Officer, wird im zweiten Quartal 2025 Präsident und CEO und folgt damit Jeremy Thigpen, der das Unternehmen seit 2015 leitet.
Adamson, der seit drei Jahrzehnten bei Transocean ist, wird auf der Jahreshauptversammlung 2025 für den Vorstand nominiert. Thigpen wird zum Executive Chair des Vorstands wechseln, während der derzeitige Vorsitzende Chad Deaton zum Lead Independent Director wird.
Adamson hat seit seinem Einstieg im Jahr 1995 verschiedene Positionen innegehabt, darunter Executive VP, Senior VP of Operations und VP of Human Resources. Er hat einen Bachelor-Abschluss in Luft- und Raumfahrttechnik und hat das Advanced Management Program der Harvard Business School abgeschlossen. Seine Prioritäten als CEO werden sich auf die Optimierung der Abläufe, die Erreichung der Kundenziele und die Reduzierung der Schulden konzentrieren, um den Wert für die Aktionäre zu steigern.
- Planned and orderly CEO succession maintaining leadership continuity
- New CEO brings 30 years of company experience across multiple roles
- Current CEO remains involved as Executive Chair, ensuring smooth transition
- None.
Insights
This meticulously planned CEO succession at Transocean demonstrates sophisticated corporate governance practices while ensuring operational continuity at a critical juncture for the offshore drilling sector. The selection of Keelan Adamson as incoming CEO represents a strategic choice that balances deep institutional knowledge with operational expertise.
Adamson's unique career trajectory - from hands-on rig operations through various management roles to executive leadership - positions him ideally to address Transocean's immediate challenges. His experience overseeing major capital projects and engineering initiatives is particularly relevant given the company's recent investments in high-specification assets, including 8th generation drillships.
The governance structure being implemented deserves attention. The transition of Jeremy Thigpen to Executive Chair, while maintaining Chad Deaton as Lead Independent Director, creates a robust leadership framework that preserves valuable institutional knowledge while ensuring proper board oversight. This arrangement follows best practices seen in successful leadership transitions at other major energy services companies.
Adamson's stated priorities - optimizing operations, meeting customer objectives, and debt reduction - suggest continuity with current strategy while acknowledging the need for financial discipline. His background in both technical operations and human resources positions him well to balance operational excellence with organizational development - important factors for offshore drilling contractors operating high-specification assets.
The timing of this transition appears strategic, coming as the offshore drilling sector shows signs of sustained recovery. Adamson's extensive experience in various global markets and customer-facing roles could prove valuable as Transocean seeks to optimize its premium fleet deployment and strengthen its market position.
STEINHAUSEN, Switzerland, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today announced its plan for key leadership changes pursuant to the company’s multi-year succession planning strategy. As part of this plan, Keelan Adamson, the company’s President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the company’s 2025 annual general meeting of shareholders.
Mr. Thigpen will continue serving as Chief Executive Officer until Mr. Adamson’s appointment and will continue his service as a member of the company’s Board of Directors through his current term. Thereafter, subject to shareholder approval at the 2025 annual general meeting, Mr. Thigpen is expected to be appointed as Executive Chair of the Board of Directors, and Mr. Chad Deaton, Transocean’s current Chair of the Board, will transition to Lead Independent Director.
“Keelan is an experienced executive who has a deep understanding of our business, our customers and our industry,” Mr. Deaton said. “Throughout his three decades with Transocean, where his experience has taken him from the drill floor to the executive level, Keelan has helped to shape the foundation of the company and position Transocean for sustained success as the industry’s market leader. This transition represents the culmination of a key part of our multi-year, rigorous and thoughtful succession plan designed to develop internal talent and maintain business and leadership continuity. Keelan is well-prepared for this opportunity.”
Mr. Deaton continued, “On behalf of the entire Board, I would like to recognize and thank Jeremy for leading Transocean through the most challenging market in the history of offshore drilling. He guided Transocean as we transformed our fleet through opportunistic asset transactions, as well as the acquisition of two major competitors; under his leadership, we placed into service the most technologically advanced rigs in the world, including the first 8th generation, 20K drillships. He oversaw the continuation of Transocean’s legacy for leading the industry in innovation, with the application of new technologies that improve the safety, reliability and efficiency of our operations. Jeremy’s contributions and leadership have been recognized and appreciated by the entire industry, and we look forward to his continued work with Transocean as he transitions into his new role.”
Mr. Adamson has served as Transocean’s President and Chief Operating Officer since February 2022. Prior to that time, he served as the company as Executive Vice President and Chief Operations Officer from August 2018 to February 2022, as Senior Vice President, Operations from October 2017 to July 2018, and as Senior Vice President, Operations Integrity and HSE, from June 2015 to October 2017. As part of his responsibilities during this period, Mr. Adamson oversaw the company’s Technical Services team from May 2016 to October 2017. He also served as the company’s Vice President, Human Resources from December 2012 to May 2015, and has held other executive positions with the company, including as the Vice President overseeing Major Capital Projects and Engineering. He joined Transocean in 1995 and has held rig management positions in the United Kingdom, Asia and Africa, sales and marketing leadership roles, and served as the Managing Director for the company's business in North America, Canada and Trinidad. Mr. Adamson earned a bachelor's degree in Aeronautical Engineering from The Queens University of Belfast and completed the Advanced Management Program at Harvard Business School.
“I am honored by and grateful for the opportunity to lead Transocean and its talented and dedicated workforce," said Mr. Adamson. “With the highest specification fleet in the industry and the unparalleled experience of our offshore crews and shore-based support personnel, we are well-positioned for success. As I work alongside the entire Transocean team as CEO, we will maintain a sharp focus on executing our business strategy – delivering enhanced shareholder value by optimizing operations, safely and efficiently meeting our customers’ objectives and meaningfully reducing our debt. It is an honor to succeed Jeremy, who skillfully guided Transocean through an unprecedented industry downturn and prepared it for the opportunities that we are realizing today.”
In reflecting on his tenure as Chief Executive Officer, Mr. Thigpen said, “The trust and support the Board and the entire Transocean team provided during my tenure as CEO helped assemble an impressive team that operates the industry’s most technologically advanced assets, while executing on strategies that preserved and enhanced shareholder value. Transocean is a resilient and strong organization, made stronger by leaders like Keelan whom I have had the pleasure of working closely with for the past decade. Keelan is the right person to lead Transocean as we build upon the company’s position as the leader in offshore drilling.”
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.
Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as "possible," "intend," "will," "if," "expect," or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company's other filings with the SEC, which are available free of charge on the SEC's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: www.deepwater.com.
This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.
Analyst Contact:
Alison Johnson
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Media Contact:
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