We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
BlackRock Inc | NYSE:BLK | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
6.91 | 0.91% | 763.91 | 771.55 | 762.70 | 765.70 | 558,117 | 01:00:00 |
By Anjie Zheng And Andrew Peaple
Oil-services company Transocean Ltd. said Chief Executive Steven Newman would leave the company amid a downturn for the industry following the slump in oil prices last summer.
Switzerland-based Transocean, which specializes in providing rigs for offshore oil drilling, said Mr. Newman's near five-year tenure as CEO would come to an end on Monday. Company Chairman Ian Strachan will step in as interim chief executive.
Transocean has suffered along with oil services companies as their key customers--large national and independent oil companies--have cut back on investment following a halving in oil prices since June. The company recorded a $2.2 billion loss in the third quarter of 2014, the last period for which financial statements are available. That included a $2.8 billion write off against goodwill and other assets on Transocean's balance sheet. Transocean's shares, whose leading owners include activist investor Carl Icahn and BlackRock Inc., have slumped nearly 60% since late June.
More recently, Fitch Ratings downgraded its outlook for Transocean to negative, saying a prolonged fall in oil prices could add to already existing oversupply of offshore oil rigs.
Mr. Newman's leadership of Transocean was also notable for its involvement in the Deepwater Horizon oil spill in May 2010, the largest in U.S. history. Transocean, which owned the rig that exploded, leading to the death of 11 workers, paid a fine of $1 billion in 2013 related to the spill. Last year a federal judge found Transocean to have been negligent in the disaster and ascribed 30% of the blame for the event to the company.
Write to Andrew Peaple at andrew.peaple@wsj.com
Access Investor Kit for Transocean Ltd.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0048265513
Access Investor Kit for BlackRock, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US09247X1019
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year BlackRock Chart |
1 Month BlackRock Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions