Company: RIG
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001451505-25-000015
Chunk: 0

Company: Transocean Ltd.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 5.02
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Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 18, 2025, Transocean Ltd. (the “ Company”) announced a plan for key leadership changes pursuant to the Company’s multi-year succession planning strategy. As part of this plan, Keelan Adamson, the Company’s President and Chief Operating Officer, will become President and Chief Executive Officer following a transition period, which is expected to conclude during the second quarter of 2025. Mr. Adamson will succeed Jeremy Thigpen, who has led Transocean as Chief Executive Officer since 2015. Mr. Adamson is also expected to be nominated to join the Board of Directors at the Company’s 2025 annual general meeting of shareholders.

Mr. Thigpen will continue serving as Chief Executive Officer until Mr. Adamson’s appointment and will continue his service as a member of the Company’s Board of Directors through his current term. Thereafter, subject to shareholder approval at the Company’s 2025 annual general meeting, Mr. Thigpen is expected to be appointed as Executive Chair of the Board of Directors, and Mr. Chad Deaton, Transocean’s current Chair of the Board, will transition to Lead Independent Director.

Mr. Adamson, age 55, has served as Transocean’s President and Chief Operating Officer since February 2022. Prior to that time, he served as the Company’s Executive Vice President and Chief Operations Officer from August 2018 to February 2022, as Senior Vice President, Operations from October 2017 to July 2018, and as Senior Vice President, Operations Integrity and HSE, from June 2015 to October 2017. As part of his responsibilities during this period, Mr. Adamson oversaw the Company’s Technical Services team from May 2016 to October 2017. He also served as the Company’s Vice President, Human Resources from December 2012 to May 2015, and has held other executive positions with the Company, including as the Vice President overseeing Major Capital Projects and Engineering. He joined Transocean in 1995 and has held rig management positions in the United Kingdom, Asia and Africa, sales and marketing leadership roles, and served as the Managing Director for the Company’s business in North America, Canada and Trinidad.

Mr. Adamson earned a bachelor’s degree in Aeronautical Engineering from The Queens University of