The Board intends to seek stockholder approval of Kramek's election at its May 2007 stockholder meeting. Kramek recently retired from the American Bureau of Shipping where he has served since 1998, most recently as President and Chief Operating Officer. Prior to joining ABS, Kramek was Commandant of the United States Coast Guard, from which he retired as a Four Star Admiral. Kramek is a naval architect and marine engineer and has received numerous honors and military awards during his distinguished career.
Daniel F. McNease, Rowan's Chief Executive Officer and Chairman of the Board stated: "We are thrilled to have Bob join our Board today. His experience and qualifications will be invaluable to the Rowan Board of Directors."
Rowan Companies, Inc. is a major provider of international and domestic contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.
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