Diamond Offshore Drilling, Inc. (NYSE:DO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On November20, 2017, Kelly Youngblood, Senior Vice President and Chief Financial Officer of Diamond Offshore Drilling, Inc. (the “Company”), notified the Company of his intention to resign from the Company in order to accept a job as chief financial officer at another company. Mr.Youngblood’s resignation will become effective on December1, 2017. The Company is conducting a search for Mr.Youngblood’s replacement. On November20, 2017, the Company appointed Scott L. Kornblau, Vice President and Treasurer, to serve as the Company’s acting chief financial officer following such resignation until a permanent chief financial officer is appointed.
Mr.Kornblau, age 46, was appointed Treasurer in 2007 and became Vice President and Treasurer in January 2017. Mr.Kornblau joined the Company in 1997 as Senior Accountant and has served in numerous finance and accounting positions. He is a CPA and received a Bachelor of Business Administration degree in Accounting from the University of Texas.
There are no family relationships between Mr.Kornblau and any director or executive officer of the Company. Other than his employment relationship with the Company and his compensation and benefits in connection with such employment relationship, Mr.Kornblau has not had a direct or indirect material interest in any transaction since the beginning of the Company’s last fiscal year, or in any currently proposed transaction, involving an amount in excess of $120,000 in which the Company was or is to be a participant. There are no arrangements or understandings between Mr.Kornblau and any other person to which he was selected as an officer.
Statements in this report that contain “forward-looking statements” within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, include, but are not limited to, statements concerning Mr.Youngblood’s resignation and departure and appointment of his successor. Such statements are inherently subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or projected. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other documents filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this report, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.
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About Diamond Offshore Drilling, Inc. (NYSE:DO)
Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water). Its Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. Its jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of its jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig. Its drillships and semisubmersible rigs include Ocean Greatwhite, Ocean Valor, Ocean Courage, Ocean BlackHornet, Ocean BlackRhino and others. It provides offshore drilling services to oils and gas companies and government-owned oil companies.