Transocean Ltd. /
Transocean Ltd. Board Nominates New Director
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ZUG, SWITZERLAND--(Marketwire - March 2, 2011) - Transocean Ltd. (NYSE:RIG)
(SIX: RIGN) today announced that the Board of Directors is recommending that the
company's shareholders approve at the 2011 Annual General Meeting the election
of Steve Lucas as a Class III Director for a three-year term. Mr. Lucas is the
retired Group Finance Director of National Grid plc and has previously served in
a variety of finance roles with the Lattice Group plc., the BG Group plc and
As previously announced, the Board of Directors is also recommending that the
company's shareholders at the 2011 Annual General Meeting approve:
-- The re-election of Ian C. Strachan and Martin B. McNamara as Class III
Directors for three-year terms.
-- The election of Jagjeet S. Bindra as a Class III Director for a three-year
term. Mr. Bindra is the retired President of Chevron Global Manufacturing and
has previously served in a variety of positions at Chevron group.
-- The election of Tan Ek Kia as a Class I Director for a one-year term. Mr. Tan
is the retired Vice President, Ventures and Developments, Asia Pacific and
Middle East Region of Shell Chemicals, and has previously served in a variety of
positions at Shell group.
The 2011 Annual General Meeting, which will open to shareholders of record as of
April 26, 2011, will be held at 4 p.m., CET, on May 13, 2011, in Cham,
Switzerland. Additional details on the meeting will be provided to shareholders
in the company's proxy statement.
Statements in this news release regarding the proposed nominations, as well as
any other statements that are not historical facts, are forward-looking
statements that involve certain risks, uncertainties and assumptions. These
include but are not limited to regulatory approvals, shareholder approval and
other factors detailed in the company's most recent Form 10-K and other filings
with the Securities and Exchange Commission (SEC), which are available free of
charge on the SEC's website atwww.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated.
Transocean is the world's largest offshore drilling contractor and the leading
provider of drilling management services worldwide. With a fleet of 138 mobile
offshore drilling units as well as one ultra-deepwater newbuild drillship and a
high-specification jackup under construction, Transocean's fleet is considered
one of the most modern and versatile in the world due to its emphasis on
technically demanding segments of the offshore drilling business. Transocean
owns or operates a contract drilling fleet of 47 High-Specification Floaters
(Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and
drillships), 25 Midwater Floaters, nine High-Specification Jackups, 54 Standard
Jackups and other assets utilized in the support of offshore drilling activities
For more information about Transocean, please visit our website
Gregory S. Panagos
Guy A. Cantwell
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Chemin de Blandonnet 10 Vernier Switzerland
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Source: Transocean Ltd. via Thomson Reuters ONE