Transocean appoints new CEO as part of internal succession planning strategy

As part of its multi-year leadership changes and succession planning strategy, Transocean Ltd. has promoted Keelan Adamson, current president and COO, to president and CEO, according to a Feb. 18 company news release.

He will assume his new role following a transition period, which is expected to conclude during the second quarter. 

Adamson will succeed Jeremy Thigpen, who has led Transocean as CEO since 2015.

Adamson has served as Transocean’s president and COO since February 2022. However, he has been with the company for 30 years. He joined Transocean in 1995 and has held rig management positions in the UK, Asia and Africa, sales and marketing leadership roles, and served as the managing director for the company's business in North America, Canada and Trinidad. He earned a bachelor's degree in aeronautical engineering from The Queens University of Belfast and completed the Advanced Management Program at Harvard Business School.

Updates to the board of directors 

The company stated that Adamson is also expected to be nominated to join the board of directors.

Thigpen will continue serving as CEO until Adamson’s appointment and will continue his service as a member of the company’s board of directors through his current term. Pending shareholder approval at the 2025 annual general meeting, Thigpen is expected to be appointed executive chair of the board of directors.

Chad Deaton, Transocean’s current chair of the board, will transition to lead independent director.

Closing thoughts

Deaton commented, “Throughout his [Adamson's] three decades with Transocean, where his experience has taken him from the drill floor to the executive level, Keelan has helped to shape the foundation of the company and position Transocean for sustained success as the industry’s market leader. This transition represents the culmination of a key part of our multi-year, rigorous and thoughtful succession plan designed to develop internal talent and maintain business and leadership continuity. Keelan is well-prepared for this opportunity.” 

He continued, “On behalf of the entire board, I would like to recognize and thank Jeremy for leading Transocean through the most challenging market in the history of offshore drilling. He guided Transocean as we transformed our fleet through opportunistic asset transactions, as well as the acquisition of two major competitors; under his leadership, we placed into service the most technologically advanced rigs in the world, including the first 8th generation, 20K drillships.”