Stolt Offshore Appoints Ehret To Board

Monday, November 10, 2003
Stolt Offshore S.A. announced that Tom Ehret, Chief Executive Officer of Stolt Offshore S.A., has been appointed to the Company's Board of Directors. Jacob Stolt-Nielsen, Chairman of the Stolt Offshore Board, said: "Tom's appointment to the Board reflects our recognition of the good work he has done since he joined the company as CEO in March this year. The Blueprint for financial recovery prepared and implemented by Tom and his team places Stolt Offshore firmly on track for a return to profitability. My colleagues and I look forward to having him on the Board as we take the company forward." Tom Ehret, Chief Executive Officer, Stolt Offshore, said: "The period since March has been one of extraordinarily intense activity and change at Stolt Offshore. Throughout the company everyone's efforts have been focused on turning the business around and creating a real commercial future. We still have a lot of work ahead of us, but as we progress through 2004 I am confident that the benefits of our recovery plan will become evident." Ehret takes up his position with immediate effect.
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