Ensco: Rabun to become president, CEO
09:32 AM CST on Monday, February 6, 2006
Bloomberg News
Ensco International Inc., a U.S. oil and natural-gas drilling contractor, hired lawyer Daniel W. Rabun as president and said he will succeed Carl F. Thorne as chief executive officer within the next year.
Rabun, 51, a partner at law firm Baker & McKenzie LLP, has provided legal advice to Ensco for more than 15 years and served on the board of directors in 2001, the Dallas-based company said today in a statement. The position of president is newly created.
Thorne, 65, will remain chairman after stepping down as CEO, Ensco said. Senior Vice President William S. Chadwick Jr., 58, was promoted to executive vice president and chief operating officer, Ensco said.
Shares of Ensco rose $2.08, or 4.3 percent, to $51 at 9:58 a.m. in New York Stock Exchange composite trading. The stock has climbed 15 percent this year.
Rabun's base pay will be $750,000, Ensco said in a filing with the U.S. Securities and Exchange Commission.
Ensco owns 43 offshore drilling rigs and expects delivery of another in the second quarter of 2007, according to a Jan. 23 statement. It's the sixth-largest U.S. drilling company by market value, ranking behind Transocean Inc., GlobalSantaFe Corp., Nabors Industries Ltd., Diamond Offshore Drilling Inc. and Noble Corp.
09:32 AM CST on Monday, February 6, 2006
Bloomberg News
Ensco International Inc., a U.S. oil and natural-gas drilling contractor, hired lawyer Daniel W. Rabun as president and said he will succeed Carl F. Thorne as chief executive officer within the next year.
Rabun, 51, a partner at law firm Baker & McKenzie LLP, has provided legal advice to Ensco for more than 15 years and served on the board of directors in 2001, the Dallas-based company said today in a statement. The position of president is newly created.
Thorne, 65, will remain chairman after stepping down as CEO, Ensco said. Senior Vice President William S. Chadwick Jr., 58, was promoted to executive vice president and chief operating officer, Ensco said.
Shares of Ensco rose $2.08, or 4.3 percent, to $51 at 9:58 a.m. in New York Stock Exchange composite trading. The stock has climbed 15 percent this year.
Rabun's base pay will be $750,000, Ensco said in a filing with the U.S. Securities and Exchange Commission.
Ensco owns 43 offshore drilling rigs and expects delivery of another in the second quarter of 2007, according to a Jan. 23 statement. It's the sixth-largest U.S. drilling company by market value, ranking behind Transocean Inc., GlobalSantaFe Corp., Nabors Industries Ltd., Diamond Offshore Drilling Inc. and Noble Corp.
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