Transocean’s shareholders has elected Merrill A. "Pete" Miller, Jr., the Board of Directors (the "Board") nominee, as a director for a term extending until completion of the company's 2015 Annual General Meeting (2015 AGM).
The Board intends to designate Mr. Miller as Vice Chairman. Ian C. Strachan, the current Chairman of the Board, will reach 72 years of age before the 2015 AGM. As previously announced, and in accordance with the company's Corporate Governance Guidelines, it is anticipated that Mr. Strachan will retire from the Board at the end of his term at the 2015 AGM. The Board currently expects to recommend that shareholders elect Mr. Miller as Chairman at the 2015 AGM.