GlobalSantaFe Announces Senior Management Change
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.
GLM, Santa Fe International Announce $6 Billion Merger
The course of corporate consolidation within the already tight offshore business took a dramatic turn over the holiday weekend, as Global Marine Inc. and Santa Fe International Corporation entered into a definitive agreement to merge in a stock-for-stock transaction that will create the world's second largest offshore drilling contractor. The new company, which will be named GlobalSantaFe Corporation, will be headquartered in Houston and will trade on the New York Stock Exchange under the ticker symbol "GSF". Based on Santa Fe's closing stock price on Friday, August 31, GlobalSantaFe would have a market value of approximately $6 billion.
