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New leadership for offshore driller Valaris Ltd

Bermuda-based Valaris Ltd, the offshore drilling services company, has appointed Anton Dibowitz as interim president and chief executive officer effective September 3.

Mr Dibowitz, a current board member, succeeds Tom Burke, who is to step down from his position as president and CEO and member of the board of directors, effective September 2.

The company said Mr Burke will continue to support Valaris for a period to ensure a smooth leadership transition for the company.

He also will remain on the board of directors of ARO Drilling, a 50/50 joint venture between Valaris and Saudi Aramco.

Valaris also announced that Jon Baksht will step down from his position as executive vice president and chief financial officer, effective September 2.

The board of directors has appointed Darin Gibbins, the company’s vice president – investor relations and treasurer, as interim CFO effective September 3.

The company said Mr Dibowitz has more than 20 years of drilling industry expertise. He joined the Valaris board in July.

He is a certified public accountant and a graduate of the University of Texas at Austin where he received a bachelor's degree in business administration, and master's degrees in professional accounting and business administration.

Mr Dibowitz said: “My time on the Valaris board of directors has only served to reinforce my understanding of Valaris as a world-class organisation.

“During this transition, we will maintain our focus on our top priority of delivering safe and efficient operations for our customers, who continue to validate our position as the offshore driller of choice, having awarded Valaris more than 20 new contracts or extensions, with associated backlog in excess of $1.3 billion, since early May.

“With the strongest balance sheet in the offshore drilling sector, unmatched scale and geographic diversity, and a modern, best-in-class fleet, Valaris is well-positioned to take advantage of strategic opportunities and a steadily improving market.”

Elizabeth Leykum, chairwoman of the board, said: “We are grateful to Tom and Jon for their valuable contributions to Valaris. They successfully led us through a prolonged and challenging downturn in the energy sector, establishing Valaris as a sound and financially stable entity. We thank them for their leadership and wish Tom and Jon the best going forward.”

Valaris Limited said it is the industry leader in offshore drilling services across all water depths and geographies.

Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris said it has experience operating in nearly every major offshore basin.

Valaris Ltd: has appointed Anton Dibowitz as interim president and chief executive officer effective September 3 (File photograph)

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Published August 19, 2021 at 3:30 pm (Updated August 19, 2021 at 5:13 pm)

New leadership for offshore driller Valaris Ltd

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