Former NOV CEO eyed for Transocean chair

Nominee: Pete Miller expected to inherit Transocean chair in 2015

Rig contractor Transocean is likely to elect the former chief executive of National Oilwell Varco to its board of directors with the intention of ultimately making him the chairman.

The Swiss-headquartered company has called an "extraordinary" general meeting of shareholders to be held in September to vote on Pete Miller's potential board designation.

Assuming he is elected - as the board has urged - Miller would succeed current chairman Ian Strachan, who is expected to retire in 2015. Miller would serve as vice chairman through 2015 if the board gets its wish.

Miller is currently the executive chairman of NOW Inc, a spinoff of the distribution business of oilfield equipment supplier NOV. He had previously been the chief executive and chairman of NOV.

He also serves as a director for Chesapeake Energy and served as president of Anadarko Petroleum's drilling unit.

He has also held various senior management positions at Helmerich & Payne.

"The board believes Mr Miller's extensive industry and senior management experience will be of significant value to the company," Transocean said.


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