ZUG, SWITZERLAND, Jan 05, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that
Ricardo Rosa will step down as Executive Vice President and Chief
Financial Officer effective January 9, 2012. After a transition
period, Mr. Rosa is expected to retire from Transocean effective
April 30, 2012. Steven Newman, President and Chief Executive Officer,
said, "On behalf of Transocean I offer my sincere thanks to Ricardo
for his many years of service to the company and wish him all the
best in his future endeavors." An executive search firm has been
retained to aid in the identification of Mr. Rosa's successor.
Effective January 9, 2012, and until a permanent replacement is
named, Gregory L. Cauthen (54) will return to the company in the role
of Interim Chief Financial Officer. Mr. Cauthen served most recently
as a consultant of the Company from September 2009 through August
2010. Prior to retirement from Transocean in August 2009, Mr. Cauthen
was Chief Financial Officer of the Company from December 2001 to
August 2009. He was also Treasurer of the Company from March 2001
until July 2003 and served as Vice President, Finance from March 2001
to December 2001. Mr. Cauthen holds a Masters in Accounting degree
from the University of Florida, Gainesville.
Transocean is the world's largest offshore drilling contractor and
the leading provider of drilling management services worldwide. With
a fleet of 135 mobile offshore drilling units, excluding two
Ultra-Deepwater Drillships and four High-Specification Jackups under
construction, Transocean's fleet is considered one of the most modern
and versatile in the world due to its emphasis on technically
demanding segments of the offshore drilling business. Transocean owns
or operates a contract drilling fleet of 50 High-Specification
Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment
semisubmersibles and drillships), 25 Midwater Floaters, nine
High-Specification Jackups, 50 Standard Jackups and one swamp barge.
For more information about Transocean, please visit our website at
SOURCE: Transocean Ltd.