NOV's senior vice president and chief financial officer, Jeremy D. Thigpen, has left the company effective immediately to become president and CEO of rig owner Transocean.
Thigpen succeeds Ian C. Strachan who was appointed interim CEO in February when Transocean's previous president and CEO Steven L. Newman stepped down in February. Thigpen spent 18 years with NOV, holding several roles with the company. He has been NOV’s chief financial officer since 2012. Prior to that, he served as president of NOV's downhole pumping and solutions business from 2007-2012, and also served as president of NOV's downhole tools group from 2003-2007. Thigpen has a Bachelor of Arts degree in economics and managerial studies from Rice University and completed the program for management development at Harvard Business School.
NOV announced that Scott K. Duff, current vice president and chief accounting officer has been named as interim chief financial officer, effective immediately. Transocean said that Strachan, who is also the company's chairman of the board of directors, will retire from the board at the end of his term at the 2015 Annual General Meeting following approximately 16 years of service.
"Jeremy is an exceptionally talented and proven executive who brings to Transocean considerable experience and a unique perspective on the industry," Strachan said of his successor.
Of his appointment, Thigpen said: "I am truly humbled, honored and excited to have been selected to lead one of the most respected franchises in the industry. I look forward to collaborating with the management team, employees, and customers to reinforce and continue to enhance Transocean's premier position among offshore drillers."
Clay Williams, chairman, president and CEO of NOV, said of Thigpen: “In his 18 years with NOV, it has been a pleasure to work with Jeremy both as CFO and for many years before that. Jeremy has always performed at the highest level and been a great credit to National Oilwell Varco. We are disappointed to lose Jeremy and his contributions to NOV’s success. We are excited that Jeremy will be leading a great company and longstanding NOV customer at Transocean Ltd., and we look forward to continuing our relationship with him in his new role.”
NOV said it will begin searching for Thigpen's replacement.
Image: Transocean's Discoverer Enterprise.
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