GlobalSantaFe Elects New CEO

GlobalSantaFe Corporation reports that its board of directors has elected Jon A. Marshall as president and chief executive officer of the company. In addition, Mr. Marshall was elected a director at the company's annual meeting of shareholders. Mr. Marshall, who previously held the title of chief operating officer, succeeds C. Stedman "Sted" Garber, Jr., who, earlier this year, announced his intention to retire from his position as president, chief executive officer and a director.

Mr. Marshall joined the company in 1979 and has held numerous operational and management roles over his 24-year career. In 1992, he became president of Applied Drilling Technology Inc. (ADTI), the company's turnkey drilling service subsidiary and Challenger Minerals Inc. (CMI), the company's oil and gas subsidiary. Mr. Marshall moved on to take the position of vice president of the parent company in 1995 and was appointed executive vice president and chief operating officer in 1998. He holds a degree in engineering from the U.S. Military Academy at West Point.

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