July 9 (Reuters) – The top management of rig firm Scorpion Offshore (SCORE.OL) has been replaced in the wake of an offer by Seadrill (SDRL.OL) for its shares.
In May, rig firm Seadrill outbid rival Ensco International (ESV.N) for the control of the Oslo-listed owner of jack-up drilling rigs. [ID:nLDE64R0P5]
John C. Cole, Scorpion’s President and CEO, and Mark L. Mey, the firm’s Vice-President and CFO, have tendered their resignations and are no longer with the company, Scorpion said in a statement.
“The resignations are in connection with the pending mandatory offer issued by Seadrill to acquire the shares of Scorpion,” the firm said late on Thursday.
They will be replaced by Tim Juran, who becomes President and CEO, and Rune Magnus Lundetrae as Vice-President and CFO. Both are employed by Seadrill.
Seadrill currently owns 50.11 percent of Scorpion Offshore’s shares after a bidding war with Ensco International. (Reporting by Gwladys Fouche; Editing by Michael Urquhart)