Odfjell Drilling exec trades CFO role for new position at the company

The Chief Financial Officer (CFO) of offshore drilling contractor Odfjell Drilling is slated to replace his position with another finance-related role at the company.

As reported by Odfjell Drilling, its CFO Frode Skage Syslak has decided to step down from his role no later than September 1, 2025, to become the Senior Vice President of Finance. He was Vice President of Finance from 2011 to March 2022, when he became CFO.

“It has been a true privilege to serve as CFO in Odfjell Drilling since we spun off Odfjell Technology in March 2022. Working closely with our high-performing team to deliver superior shareholder returns and to position Odfjell Drilling for long-term success has been incredibly rewarding, but I now look forward to transitioning into a new role with a slightly different focus and responsibility,” noted Syslak.

Syslak holds a master’s degree from Norwegian School of Economics (NHH). He joined Odfjell Drilling in 2005 and has what the company describes as broad capital markets experience from various roles within group finance.

Ørjan Lunde, who held several key roles within finance management in Odfjell Drilling from 2015 to 2019, is set to take over as CFO. He is currently the CEO of Kristian Gerhard Jebsen Skipsrederi, having served as its CFO from 2019 to January 2024.

Lunde holds a Master’s degree from the Norwegian School of Economics (NHH). His career started in EY in 2000, after which he moved to Nordea in 2007. Prior to his current position, he held CFO positions at Ocea and Reef Subsea.

Kjetil Gjersdal, CEO of Odfjell Drilling said: “I would like to thank Frode Skage Syslak for excellent execution during his three years as CFO. His dedication and expertise have played a key role in steering Odfjell Drilling to the outstanding position we hold today. I am pleased that Frode will continue to work for us in a key position.”

Gjersdal also welcomed Lunde back to the company, noting that he is confident that his strategic capabilities and top management experience will contribute to the company’s continued success.

In addition to introducing management changes, Odfjell Drilling has been keeping vessels from its fleet busy with drilling assignments. One of the semi-submersible rigs the company manages, the Deepsea Yantai, was recently used by Norway’s DNO to make an oil and gas discovery in license PL1182 S in the North Sea.