Leadership Shift at Transocean with CEO Jeremy Thigpen to Become Board Chairman

Transocean, the world’s largest offshore drilling company, announced on Tuesday that longtime CEO Jeremy Thigpen will transition into a new role as chairman of the company’s board.

Thigpen, 50, has led Transocean since 2015, steering it through one of the most challenging downturns in the offshore drilling market. Under his leadership, the company survived a debt restructuring in 2020 and successfully acquired two major competitors, Songa Offshore and Ocean Rig. He also oversaw a significant overhaul and expansion of Transocean’s fleet, including the addition of the world’s first 8th-generation, 20,000 PSI-capable drillship. Today, Transocean stands as the largest offshore drilling services provider by revenue and boasts the industry’s most technologically advanced fleet, though China’s state-owned COSL leads in sheer unit numbers.

As part of a long-term succession plan, Thigpen will step down as CEO and be succeeded by Keelan Adamson, the company’s current president and COO. The leadership transition is set to take place over the next few months.

Transocean board chairman Chad Deaton noted that Adamson’s three decades with the company, spanning roles from the drill floor to the executive suite, had played a crucial part in shaping Transocean’s foundation and positioning it as the market leader.

Adamson, an aeronautical engineer by training, joined Transocean in 1995 and held various rig management roles across the company’s global operations. He later led the North American region before moving into multiple vice president-level positions at headquarters. In 2017, he was appointed senior vice president of operations, and by 2018, he had taken on the role of COO. He was named president in 2022.

Thigpen will continue serving as CEO until the transition is complete, after which—pending shareholder approval—he will assume the role of board chairman. Deaton will remain on the board as lead independent director.

Reflecting on the leadership change, Thigpen described Transocean as a resilient and formidable organization, strengthened by leaders like Adamson, with whom he has worked closely for the past decade. He expressed confidence that Adamson is the right choice to guide Transocean forward as it builds on its status as the leader in offshore drilling.

Have you read?
Richest Countries In Europe In 2024.
Most Attractive Countries To Private Equity, Venture Capital, and Hedge Fund Investors.
Revealed: Highest-paid news media executive in the United Kingdom.
Countries Leading the Way on Climate Change.
World’s Best Countries For Adventure Tourism.