Seadrill Appoints New CEO

Seadrill has announced that Executive Vice President and Chief Operating Officer Per Wullf will succeed Fredrik Halvorsen as Chief Executive Officer at the end of July.

Mr. Halvorsen has decided to leave Seadrill to join Ubon Partners, a technology venture.

Wullf has worked for Seadrill since February 2009 and has 33 years of experience in the drilling industry, including 17 years in international and offshore operations.

John Fredriksen, Chairman of Seadrill’s Board of Directors commented, “In his new position, Mr. Wullf will retain a strong focus on the operational performance of the fleet, and for the time being, will also retain his position as the Company’s Chief Operating Officer. Some functions which have previously been a part of the CEO’s responsibilities such as investor presentations, corporate transactions, and financing will to a large extent be assumed by the CFO Rune Magnus Lundetrae and the CAO Rob Hingley-Wilson. This is being done in order for Mr. Wullf to maintain maximum focus on Seadrill’s expansion and operation.

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