Dean E Taylor News

Paragon Offshore Group announced that it has emerged from bankruptcy after completing a restructuring that eliminated USD 2.3 billion of debt. The successor company to Paragon Offshore PLC , which filed for bankruptcy in February 2016 with USD 2.96 billion of debt, also named a new board of directors. The search for a new CEO is underway. "The plan of reorganization under chapter 11 of the United States Bankruptcy Code substantially de-levers the company’s ongoing business, eliminating  approximately $2.3 billion of secured and unsecured debt. New Paragon emerges with eight rigs currently operating plus a ninth rig expected to commence operations in August 2017…

ABS celebrated its 150th anniversary in Washington, DC on 31 January and was recognized by Members of Congress for the classification society’s proud history and unwavering commitment to the American and international maritime community. “I ask my colleagues to join with me in congratulating ABS on its 150th anniversary and in recognizing ABS’ significant service to the American marine and offshore industries and our sea services,” stated Congressman Frank LoBiondo (R-NJ), Chairman of the Subcommittee on Coast Guard and Maritime Transportation, in remarks entered into the Congressional Record. Congressman LoBiondo was joined by Congressman Rick Larsen (D-WA)…

Tidewater (NYSE: TDW) announced today that Dean E. Taylor, age 53, has been promoted to President He has also been appointed to the Tidewater Board of Directors. Taylor was previously executive vice president with operating responsibilities for Latin America, West Africa and the North Sea. He replaces William C. O'Malley, age 64, who retains the positions of Chief Executive Officer and Chairman. It is expected that Taylor will become Chief Executive Officer in March 2002. Taylor is a graduate of Tulane University with an MBA from Boston University. He joined Tidewater in 1979 following seven years of military service as a Naval officer. O'Malley will retire in March 2002. He will continue beyond 2002 as a member of the Tidewater Board and as Non-Executive Chairman through July 2003.

William C. O'Malley, chairman, president and CEO of Tidewater, Inc. has officially given up his post as CEO of the New Orleans-based company - handing over the title to Dean E. Taylor. Taylor, who has served as Tidewater's president since October 2001, when O'Malley first announced his impending retirement, began his career with Tidewater more than 20 years ago as an assistant manager in the company's Morgan City, La. office. He eventually worked his way up to executive vice president in December 2000; less than one year later it was decided that he would serve as O'Malley's successor. O'Malley, who has been with Tidewater since 1994, will continue to serve as the company's non-executive Chairman until July 2003.

Tidewater Inc. (NYSE:TDW) announced on March 28 that William C. O'Malley, the company's Chairman, President and CEO for most of the past eight years, has officially stepped down as Tidewater's CEO, handing over the reins of leadership to Dean E. Taylor. Taylor, 53, has served as President of Tidewater since October 2001 when O'Malley, 65, announced his impending retirement at the end of March 2002. Taylor's career with Tidewater started in 1978 where he served as an assistant manager in the company's Morgan City, La. office. With his Navy background and business savvy, Taylor gradually worked his way up through Tidewater's ranks to become an executive vice president in December of 2000.

Tidewater Inc. announced that, effective immediately, Cliffe F. Laborde, Larry T. Rigdon and Dean E. Taylor have been promoted to the level of Executive Vice President. Each will report directly to William C. O'Malley, Chairman, President and Chief Executive Officer. Cliffe F. Laborde will continue as General Counsel of the company. His responsibilities will also include Corporate Administration, Information Technology, Employee Benefits, Insurance and Human Resource Management, including recruiting, personnel, training and vessel crewing, all on a worldwide basis. He will also assume responsibility for overseeing management of Quality Shipyards. Larry T. Rigdon will continue his full operations responsibilities for the United States Gulf of Mexico, California and Alaska.

A recent visit to New Orleans afforded MR a chat with Larry Rigdon, a man who has stirred controversy and heated debate among offshore vessel providers, while steadfastly building what is far from the largest but arguably the finest fleet of boats serving the offshore market. Politics, Money & Competition: By all accounts, Larry Rigdon has had an interesting run through his mid-50s. While thoughts of the majority of men his age are turning to 401K values and retirement, Rigdon decided to design and build a fleet of ten 210- x 54- x 19-ft. diesel-electric platform supply vessels, vessels designed to offer the offshore market an unprecedented level of performance via an adherence to top technical specification.

Tidewater Inc. entered into a definitive agreement with Crosby Marine Transportation, LLC to sell 14 of its offshore tugs, 12 of which currently constitute Tidewater's total domestic fleet of offshore tugs. In addition, two tugs scheduled to return from international assignments in the Middle East are included in the transaction. The sale of ten of the tugs is expected to close by the end of August, with the sale on the other four vessels scheduled to close over the next four months as current charter contracts to which the four tugs are subject expire. The combined cash sales proceeds of $44.8 million will result in an estimated pre-tax financial gain of approximately $34 million…

Dean E. Taylor has been elected as Chairman of its Board of Directors at Tidewater Inc. Taylor will also retain the positions of President and Chief Executive Officer, which positions he has held since October 2001 and March 2002, respectively. He is replacing William C. O'Malley, who has served as Chairman of the Board since 1994. O'Malley will continue as a director of the Company, having been reelected by shareholders to a three year term ending in July 2006.