GlobalSantaFe Announces Senior Management Change

Thursday, August 22, 2002
GlobalSantaFe Corporation reported that executive vice president of finance and Administration Seals McCarty has elected to take early retirement from the company and will pursue other interests after a long and successful tenure with the organization. Effective immediately, chief financial wfficer Matt Ralls will report directly to President and Chief Executive Officer Sted Garber. McCarty's position will not be filled. McCarty, 56, was named to his current position, which included oversight of the company's finance, human resources, procurement and information technology departments, following the merger that formed GlobalSantaFe in November 2001. Prior to his recent position, McCarty was chief financial officer of Santa Fe International Corporation. "We wish Seals all the best in life as he looks forward to new opportunities," Garber said about the departure. "He is a true professional who made a significant contribution to the success of the company."

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