Houston-based offshore driller Paragon Offshore has appointed its chairman Jay Swent III to the role of president and CEO replacing Dean Taylor who has served as interim CEO since November 2016.
Swent has over 12 years experience in offshore drilling with Ensco as CFO before retiring in 2015.
Swent will continue as a board member but will step down as chairman, to be replaced by George Sandison.
Commenting on Swent’s appointment, Sandison said: “Mr. Swent’s selection is the result of an extensive search process centered on executives with experience in offshore drilling. His understanding of the global nature of our operations and our customers, combined with his business acumen developed through his years in a variety of other industries, will serve Paragon well in positioning the company for future success.”
Paragon made several senior management changes, including the appointment of Anirudha Pangarkar to the role of COO and Lee Ahlstrom to the role of CFO.
Last month, Paragon Offshore emerged from Chapter 11 bankruptcy which saw secured creditors and unsecured bondholders receiving equity in a new parent company.