Seadrill promotes Dibowitz to CEO

Seadrill promotes Dibowitz to CEO

Under pressure Seadrill has promoted its American chief commercial officer to replace Per Wullf as CEO.

Anton Dibowitz will take on the new role from July 1. Wullf will continue as a director of the company.

John Fredriksen, chairman of the board, said: “Anton has a strong industry track record and has taken roles of increasing responsibility during his 10 years at Seadrill, including the day to day business administration at Seadrill since 2016. We are confident that this succession plan provides Seadrill with the right combination of continuity and stability as the company works to complete its financial restructuring aimed at building a bridge to a recovery and achieving a sustainable capital structure.”

Dibowitz, CEO designate, said: “There are short term challenges to overcome in Seadrill and the industry but I look forward to playing my part in returning Seadrill to growth, together with the great team we have working here.”

Fredriksen has said the restructuring of Seadrill is his greatest priority this year and that the financial handling of his rig firm has been the most complex in his 50 years in shipping and offshore.

Seadrill claimed today it is making significant progress with its restructuring, attracting new investors too.

“The company is now in advanced discussions with certain third-party and related-party investors and its secured lenders on the terms of a comprehensive recapitalisation,” it said in a release.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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