Seadrill Appoints New CEO

Offshore drilling contractor Seadrill reported Friday that it has appointed a new chief executive officer. The firm said that Per Wullf will replace Fredrik Halvorsen, after Halvorsen resigned from the company to join a technology venture.

Wullf has worked for Seadrill since February 2009 as its chief operating officer. Before joining the company he held several senior positions at Maersk, most recently managing director of Maersk Contractors in Norway.

Seadrill Chairman John Fredrisksen commented in a company statement:

"Since joining Seadrill in 2009, Mr. Wullf's focus on operational performance during a period of phenomenal growth has allowed Seadrill to establish a track record of delivering safe and efficient operations for its customers. He has established strong relationships and an excellent reputation among our major customers and vendors.

"In his new position, Mr Wullf will retain a strong focus on the operational performance of the fleet, and for the time being will also retain his position as the Company's Chief Operating Officer.

"Some functions which have previously been a part of the CEO's responsibilities such as investor presentations, corporate transactions, and financing will to a large extent be assumed by the CFO Rune Magnus Lundetrae and the CAO Rob Hingley-Wilson. This is being done in order for Mr Wullf to maintain maximum focus on Seadrill's expansion and operation."

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