Seadrill today announced the appointment of Svein Harald Øygard as a new board director. Mr Øygard brings significant financial and sector expertise to the Company, with decades of international experience in the government, financial and energy sectors. He worked within the Norwegian Ministry of Finance and various other governmental agencies, including as State Secretary of Finance, where he led the work on the Norwegian Tax Reform 1992, the Norwegian Government's Long-Term Program and the report on the economic effects of a possible EU membership. In 1995, he joined global consultancy McKinsey in Norway, a business he ran from 2005 to 2007. In 2009, he was Interim Governor of the Central Bank of Iceland, before returning to McKinsey. He served as Global Knowledge Leader Oil & Gas from 2010 to 2014 and led the firm’s oil and gas work in South America from 2013 to 2016.

Taking his expertise freelance in 2016, Mr. Øygard has since held board positions for a range of international firms operating in the oil and gas sector and from 2017 to early 2021 worked for Sparebank 1 Markets. An established author and economist, in 2019 Mr. Øygard published a book entitled "In the Combat Zone of Finance", which focused on the 2008 financial crisis and its macroeconomic impact. Originally published in Norwegian and Icelandic, the book has also been translated into English and Chinese.

Glen Ole Rødland, Chairman commented:
“We are delighted to welcome Svein Harald to Seadrill’s board. His expertise in the oil and gas sector, alongside his directorship and board committee experience, complement a board and management dedicated to further developing Seadrill’s position as the sector’s leading offshore driller.”

Seadrill also announced the appointment of Grant Creed as Chief Financial Officer and Leif Nelson as Chief Operating Officer, both effective immediately. Grant is an experienced senior finance executive who joined Seadrill in 2013 and, prior to his appointment as Chief Financial Officer, was Chief Restructuring Officer leading Seadrill’s capital restructuring. During his time at Seadrill, Grant has held various positions including VP Mergers & Acquisitions and VP Corporate and Commercial Finance. Prior to joining Seadrill, Grant held M&A Transaction Services and Audit positions at Deloitte and is a chartered accountant.

Reid Warriner, Chief Operating Officer, has taken the decision to step down and will support the company in delivering a smooth handover of activities in the coming months. Leif Nelson, Seadrill’s current Chief Technology Officer will now also serve as the Chief Operating Officer. Having previously been Chief Operating Officer of Seadrill for a number of years, Leif will ensure a smooth continuation of safe and efficient operations. 

Stuart Jackson, CEO of Seadrill, said: 
“Grant has a breadth of experience and extensive expertise in capital market transactions, mergers and acquisitions and driving efficiencies that will be key for the future of Seadrill. His appointment positions the company strategically for the future as we prepare to take the next steps in our financial restructuring, which will see Seadrill solidify its position as a leading provider of offshore drilling services.

“I would like to thank Reid for his service and wish him every success for the future as I welcome Leif back into the role of Chief Operating Officer. The breadth and depth of Leif’s experience in our industry, coupled with a proven track record of delivering safe and efficient operations for our customers will be key to our future success.”

KeyFacts Energy Industry Directory: Seadrill