New CEO takes over from Jackson at Seadrill helm

Following its exit from Chapter 11 bankruptcy last month, offshore drilling contractor Seadrill has appointed a new President and Chief Executive Officer (CEO).

Seadrill said on Thursday that Simon Johnson will replace Stuart Jackson as President and CEO with immediate effect. Jackson has been in this role since October 2020 when he replaced Anton Dibowitz.

Julie Robertson, Chair of the Board of Seadrill, commented: “On behalf of the Board of Seadrill, I would like to thank Stuart for his contribution in guiding the company through its Chapter 11 bankruptcy reorganization. These have been difficult times and we appreciate his work in keeping the company operating in a safe and effective manner. Stuart will no longer be President and Chief Executive Officer with immediate effect.”

As a reminder, Seadrill in February 2022 emerged from Chapter 11 bankruptcy, a little over a year after filing for it. This was its second bankruptcy filing in about four years.

Robertson added: “We are also pleased to announce that Simon Johnson will succeed Stuart as President and Chief Executive Officer of the company. Simon has significant experience in the offshore drilling industry, having previously served as Chief Executive Officer of Borr Drilling, and in various roles with Noble Corporation, including most recently as Senior Vice President – Marketing and Contracts, Diamond Offshore and Seadrill. We believe that Simon is well-suited to lead the Seadrill team following its emergence from bankruptcy.”

Simon Johnson commented: “I am excited to be joining the Seadrill team at a fascinating time in the industry. As someone who was at the very beginning of the Seadrill story, I am proud to return in a leadership role and look forward to working with our shareholders, employees, customers and vendors to re-launch our investment proposition with a laser focus on value creation.”

According to the drilling contactor, Johnson has worked internationally for the past 25 years for a number of publicly listed offshore drilling contractors, including Diamond Offshore, Seadrill, Noble Corporation, and Borr Drilling. His early career saw exposure to various rig and shore-based operational roles for MODUs in South East Asia before migrating to more commercially focused roles including Senior Vice President – Marketing and Contracts at Noble Corporation and Chief Executive Officer of Borr Drilling.

Johnson has many years of exposure to board engagements and associated corporate governance and compliance issues.

It is also worth reminding that, prior to its bankruptcy exit, Seadrill established a new board structure, including former Noble CEO and Subsea 7 CEO.