GlobalSantaFe's Robert E. Rose Retires

Robert E. Rose, chairman of the board of directors of GlobalSantaFe Corporation (NYSE: GSF), is retiring from his role as chairman on March 31, but will remain as non-executive chairman of the board.

"It has been a privilege leading the company," Rose said. "As I enter a new phase in my career I am confident that Jon Marshall, together with the rest of GlobalSantaFe's management and employees, all share a commitment to excellence and are on track to deliver superior long-term shareholder value."

Jon Marshall, president and chief executive officer, praised the contributions Rose has made to the organization and the industry. "Bob Rose's leadership has been invaluable, not only to GlobalSantaFe, but also in his commitment to enhance the standards of our industry during a period of pioneering ultra-deepwater technologies and industry consolidation."

Rose engineered the merger of Global Marine Inc. and Santa Fe Corporation, creating the world's premier offshore drilling company. He became chairman of the board of the combined company upon the closing of that transaction in November 2001.

Previously, he had served as chairman of the board, president and chief executive officer of Global Marine Inc. after re-joining the company in May 1998. Rose initially joined Global Marine in 1963, served in various positions for more than 13 years, including manager of Global Marine's first purpose-built drillship, the Glomar II, and advanced to the position of vice president for Europe, Africa and the Middle East. He then held executive positions with other offshore drilling companies and was president, chief executive officer and director of Diamond Offshore Drilling and its predecessor, Diamond M Company. He presided over the 1992 consolidation of Diamond M and ODECO, the initial public offering of Diamond Offshore in 1995, and the acquisition of Arethusa Offshore in 1996, creating the world's largest deepwater offshore drilling company.

Rose serves on the Department of Energy's National Petroleum Council, Spindletop International's Board of Trustees, and the boards of the American Petroleum Institute, the American Bureau of Shipping, the Offshore Energy Center, the National Ocean Industries Association, the International Association of Drilling Contractors, the San Jacinto chapter of the Boy Scouts of America and Grey Wolf Inc.

A veteran of the United States Air Force, Rose is a pilot and holds the rank of Colonel in the Commemorative Air Force. He has a master of business administration degree from Southern Methodist University.