Hercules Offshore Inc., Houston, (Nasdaq: HERO) has named John T. Rynd chief executive officer and president. He succeeds Randall D. Stilley who has resigned.
Rynd was executive vice president and chief operating officer of the company since July 2007. Before that he was senior vice president of Hercules Offshore and president of Hercules Drilling Co. LLC. Previously he was with Noble Drilling Services Inc. and Rowan Cos. Inc.
“I am proud of my time at Hercules Offshore and what we accomplished,” Stilley says. “With the integration of several key acquisitions completed, the recent downturn in the company’s domestic businesses now clearly behind us, and the platform for international expansion in place, the time to turn the reins of the company over to John Rynd is ideal.”
Board chairman John Reynolds says, “We appreciate the contributions Randy has made to Hercules Offshore over the past four years. With Randy's leadership, the company experienced tremendous growth, generating an increase in the company's total enterprise value from approximately $100 million to over $4 billion today.
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