Another Top Level Executive at Transocean Resigns

Transocean, the world’s largest offshore drilling contractor, has announced yet another senior-level executive has resigned.  Transocean made the announcement yesterday that its Vice President, Controller and Principle Accounting Officer, Robert Shaw, has resigned effective immediately.  Shaw’s resignation quickly follows on the heals of Transocean’s former CFO, Ricardo Rosa, who stepped down from the role on January 9th.

Transocean said in a press statement that Shaw will remain with the company for a “period of time sufficient to ensure a smooth transition” and added that his departure is “not related to any disagreements with the Company’s accounting, financial reporting or internal control over financial reporting.”  Shaw, 48, joined Transocean in July 2010 as Vice President and Treasurer and had served as Vice President, Controller and Principle Accounting Officer since December 1, 2011.

Shaw will be replaced by Gregory Cauthen, the same man that took over as Interim CFO following Rosa’s resignation, while the company searches for a permanent replacement.

In addition to his role as Interim CFO, Cauthen served most recently as a consultant to Transocean from September 2009 through August 2010 and was CFO of the company from December 2001 to August 2009. He was also Treasurer of the Transocean from March 2001 until July 2003 and served as Vice President of Finance from March 2001 to December 2001.

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