Seadrill Partners LLC (NYSE: SDLP) said Jan. 10 that its CEO and CFO, Mark Morris, will step down from his positions at the end of June, providing time for the company to find a suitable replacement.

“Mark has been a valuable partner to both the company and the board and I would like to thank him for his leadership and insight through what has been a challenging period in the off-shore oil and gas sector,” Harald Thorstein, chairman of the board, said.

“It has been a privilege to have led the company over these last three and a half years, but now I am looking to seek new and different challenges. I wish the company every success in the future,” Morris said.

The company has begun an internal and external search process and a further announcement will be made in due course.