Thursday May 20, 4:00 pm Eastern Time
Company Press Release
SOURCE: R&B Falcon Corporation
R&B Falcon Corporation Announces Management Change
HOUSTON, May 20 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC - news) announced today that the Board of Directors has elected the following officers of the Company effective immediately:
Paul B. Loyd, Jr. Chairman and Chief Executive Officer
Andrew Bakonyi President and Chief Operating Officer
Tim W. Nagle Executive Vice President and Chief Financial Officer
Bernie Stewart Senior Vice President, Operations - Shallow Water
and Transition Zone Division
Ron Toufeeq Senior Vice President, Operations - International and
Deepwater Division
Wayne K. Hillin Senior Vice President and General Counsel
Charles R. Ofner Senior Vice President - Business Development and
Investor Relations
Paul B. Loyd, Jr., the Company's Chairman and Chief Executive Officer, commented, ''We are very pleased to have this new management team on board. I have every confidence this group will be able to carry out the Company's focus on conservative, lean and professional management through a difficult period for the offshore drilling industry. Our goal is to manage for cash, enhance liquidity, complete our construction program successfully and effectively manage marketed supply of our drilling units in order to position the Company to participate in the recovery in the industry that we are confident will take place. We believe we have the greatest upside in the business, and our mission is to ensure that our shareholders and employees realize that potential.''
R&B Falcon Corporation operates the world's largest fleet of marine-based drilling rigs servicing the international oil and gas industry. Its fleet is composed of 136 marine-based drilling units including the industry's largest fleets of barge and jackup rigs, and a fleet of semisubmersibles and drillships which is among the most capable in the world. R&B Falcon also provides turnkey and integrated services and operates mobile production units, internationally-based land drilling rigs and an offshore towing business.
SOURCE: R&B Falcon Corporation |
