GlobalSantaFe CEO to Retire

GlobalSantaFe reports that C. Stedman "Sted" Garber, Jr., has announced his intention to retire from his position as president, chief executive officer and company director as of May 6, 2003, the date of the company's annual general meeting. Jon A. Marshall, currently the company's chief operating officer, will succeed Garber as president and chief executive officer and will stand for election as a company director at the annual meeting in May.