Drilling service giant Diamond Offshore is on the hunt for a new chief executive after current incumbent Lawrence Dickerson announced his retirement.
The 60-year-old, who has been with the company for 34 years, will bow out after five years at the head of the company.
Russell Reynolds Associates have been brought in by the company’s board to find a new CEO, with Mr Dickerson staying on until his replacement is confirmed.
“I have been privileged to lead this great company,” he said.
“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.
“I am especially proud of our safety achievements in recent years. I look forward to working with my colleagues, the board, and our customers during this transition.”
Mr Dickerson had been a director of the Loews Corporation-owned firm, which has a major office in Aberdeen, and which has a fleet of 30 semi-submersibles and seven jack-up rigs, along with a drillship.
“Diamond Offshore has achieved operational excellence and substantially modernized its fleet with Larry at the helm,” said chairman James Tisch.
“Under his leadership, Diamond has created tremendous value for shareholders, including paying total dividends of more than $5 billion-over $36 per share-to shareholders since 2006.
“The board is grateful for Larry’s many contributions and his distinguished tenure as both President and CEO.”
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