On January 25, 2012, Robert S. Shaw notified Transocean Ltd. of his resignation as Vice President, Controller and Principal Accounting Officer to pursue other opportunities. Mr. Shaw will remain with the Company for a period of time sufficient to ensure a smooth transition of responsibilities. Mr. Shaw's departure is not related to any disagreements with the Company's accounting, financial reporting or internal control over financial reporting.
Effective immediately, Gregory L. Cauthen, Interim Chief Financial Officer, will assume the responsibilities of Controller and Principal Accounting Officer pending identification of Mr. Shaw's replacement.
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