Seadrill Names CFO, COO. Adds New Director to Board


Offshore drilling company Seadrill Limited has this week appointed a new chief financial officer and a new chief operating officer, as well as announced the appointment of a new director to its board.

Oslo-listed offshore drilling firm said on Thursday that Grant Creed would be its Chief Financial Officer, with Leif Nelson named as Chief Operating Officer, both effective immediately.

Creed is a senior finance executive who joined Seadrill in 2013 and who, before the CFO position, was Chief Restructuring Officer leading Seadrill’s capital restructuring.

During his time at Seadrill, Creed has held several positions including VP Mergers & Acquisitions and VP Corporate and Commercial Finance.

As for the new COO appointment, Leif Nelson will replace Reid Warriner, who decided to step down.

Nelson, Seadrill’s current Chief Technology Officer will now also serve as the Chief Operating Officer.

„Having previously been Chief Operating Officer of Seadrill for a number of years, Leif will ensure a smooth continuation of safe and efficient operations,“ Seadrill said.

Stuart Jackson, CEO of Seadrill, said: “Grant has a breadth of experience and extensive expertise in capital market transactions, mergers and acquisitions and driving efficiencies that will be key for the future of Seadrill. His appointment positions the company strategically for the future as we prepare to take the next steps in our financial restructuring, which will see Seadrill solidify its position as a leading provider of offshore drilling services.

“I would like to thank Reid for his service and wish him every success for the future as I welcome Leif back into the role of Chief Operating Officer. The breadth and depth of Leif’s experience in our industry, coupled with a proven track record of delivering safe and efficient operations for our customers will be key to our future success.”

In a separate statement on Thursday, Seadrill announced the appointment of Svein Harald Øygard and a new board director. 

"Mr. Øygard brings significant financial and sector expertise to the Company, with decades of international experience in the government, financial and energy sectors," Seadrill said.

He worked within the Norwegian Ministry of Finance and various other governmental agencies, including as State Secretary of Finance, where he led the work on the Norwegian Tax Reform 1992, the Norwegian Government's Long-Term Program, and the report on the economic effects of a possible EU membership. 

In 1995, he joined global consultancy McKinsey in Norway, a business he ran from 2005 to 2007. In 2009, he was Interim Governor of the Central Bank of Iceland, before returning to McKinsey. 

He served as Global Knowledge Leader Oil & Gas from 2010 to 2014 and led the firm’s oil and gas work in South America from 2013 to 2016. Taking his expertise freelance in 2016, Mr. Øygard has since held board positions for a range of international firms operating in the oil and gas sector and from 2017 to early 2021 worked for Sparebank 1 Markets. 

Glen Ole Rødland, Seadrill's Chairman said: “We are delighted to welcome Svein Harald to Seadrill’s board. His expertise in the oil and gas sector, alongside his directorship and board committee experience, complement a board and management dedicated to further developing Seadrill’s position as the sector’s leading offshore driller.”

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