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Leadership Shift at Transocean with CEO Jeremy Thigpen to Become Board Chairman
Jeremy Thigpen transitions to Board Chairman after a successful tenure as CEO, as Keelan Adamson, a 30-year veteran, takes the helm to lead Transocean’s next chapter of growth and innovation.
After navigating a challenging era, Transocean’s long-serving CEO transitions to Board Chairman, with Keelan Adamson set to lead the company into its next phase of growth.
Transocean, the world’s largest offshore drilling company, announced a significant leadership transition this week, as longtime CEO Jeremy Thigpen will step down from his role and transition to chairman of the company’s board. This change marks a new chapter for the industry giant, which has successfully navigated some of the most challenging times in the offshore drilling sector.
Jeremy Thigpen, 50, has been at the helm of Transocean since 2015, guiding the company through a particularly turbulent period for the offshore drilling industry. Under his leadership, Transocean not only weathered the 2020 market downturn but also orchestrated a key debt restructuring that allowed the company to emerge stronger. Thigpen also oversaw the strategic acquisition of two major competitors, Songa Offshore and Ocean Rig, which significantly expanded Transocean’s market position.
A highlight of Thigpen’s tenure was the impressive overhaul and expansion of Transocean’s fleet, including the addition of the world’s first 8th-generation, 20,000 PSI-capable drillship. This fleet, now the industry’s most technologically advanced, positioned Transocean as the leader in offshore drilling services by revenue, even as China’s state-owned COSL surpassed it in sheer unit numbers.
Keelan Adamson: A Natural Successor
As part of Transocean’s long-term succession plan, Thigpen will be succeeded by Keelan Adamson, the company’s current president and chief operating officer (COO). Adamson, a 30-year veteran of Transocean, brings a deep understanding of the company’s operations, having held roles across every level of the organization—from managing rigs on the ground to guiding the company’s global operations at the executive level.
Adamson’s extensive experience spans a variety of leadership positions. After joining Transocean in 1995 as an aeronautical engineer, he worked his way up through multiple roles in rig management. He later led the North American region and subsequently held several key executive positions at headquarters, eventually becoming senior vice president of operations in 2017. In 2018, he was appointed COO and named president in 2022.
Chad Deaton, Transocean’s board chairman, expressed full confidence in Adamson’s ability to lead the company forward. He emphasized that Adamson’s deep-rooted experience at Transocean, combined with his strategic vision, made him an ideal candidate to continue driving the company’s growth and innovation.
A Seamless Transition for the Future
Jeremy Thigpen will continue to serve as CEO until the leadership transition is complete, which is expected to occur over the next few months. Once the transition is finalized and pending shareholder approval, Thigpen will formally assume the role of chairman of the board, a position that will allow him to continue contributing to the company’s strategic direction and oversight.
Reflecting on the change, Thigpen expressed pride in the company’s resilience and growth under his leadership. He praised Adamson, with whom he has worked closely for nearly a decade, describing him as a strong, capable leader who is well-equipped to guide Transocean into its next phase of growth. Thigpen’s confidence in Adamson’s leadership will likely help ensure a smooth transition and continued success for the company.
Chad Deaton will also remain on the board, continuing his role as lead independent director. His ongoing leadership in conjunction with Thigpen and Adamson’s contributions ensures that Transocean’s strategic priorities will remain aligned as the company enters this next phase.
Conclusion: A New Era for Transocean
Transocean’s leadership transition is a clear indication of the company’s long-term vision and commitment to sustainability, resilience, and innovation. As Jeremy Thigpen steps into the role of chairman, Keelan Adamson is poised to lead the company into a new era of growth. With a remarkable track record and deep industry expertise, Adamson is well-positioned to build on Transocean’s success and further solidify its position as the leader in offshore drilling services.
The seamless leadership handover reflects a well-thought-out succession plan that prioritizes continuity and stability, ensuring that Transocean will continue to thrive in the competitive and evolving offshore drilling market. Under Adamson’s leadership, the company is set to embrace new opportunities while staying committed to technological advancement and operational excellence.
