Jay Swent News

Ensco plc announced today that EVP & CFO Jay Swent, 64, will be retiring after more than 11 years of service. Mr. Swent will continue to serve in his current role until the succession process has been completed and a new CFO has been named. The completion of the succession process may extend into the first half of next year. “Jay has been integral to Ensco’s major achievements over the past decade as the company has grown to become an industry leader,” said CEO and President Carl Trowell. “We congratulate Jay on his successful career, and wish him and his family all the best as they plan for his upcoming retirement.”

Ensco plc announced that EVP & CFO Jay Swent will retire after more than 11 years of service. Swent will continue to serve in his current role until the succession process has been completed and a new CFO has been named. The completion of the succession process may extend into the first half of next year. Swent joined Ensco in July 2003 and was appointed Executive Vice President and Chief Financial Officer in July 2012. Prior to his current position, Swent served as Senior Vice President – Chief Financial Officer.

Ensco plc today reported a loss of $5.07 per diluted share in second quarter 2014 compared to earnings of $1.55 per diluted share in second quarter 2013. The loss from discontinued operations for second quarter 2014, which includes a $546 million pre-tax loss on impairment for four floaters that are now held for sale, was $2.38 per share compared to a gain of $0.07 per share in second quarter 2013. The loss from continuing operations in second quarter 2014 was $2.69 per share, compared to earnings from continuing operations of $1.48 per share in second quarter 2013. Excluding a loss on impairment for four floaters in continuing operations totaling $992 million…