Owen Kratz, who currently serves as executive chairman and chairman, has resumed the role of CEO and assumed all of the duties formerly performed by Mr Ferron.
Mr Ferron has served on the company’s board of directors since September 1998. He has served as CEO from October 2006 and he became president in February 1999. He also served as COO from January 1998 until August 2005.
Mr Kratz said: Martin has been with the company for over 10 years and has played a prominent role in our rapid and profitable growth. We credit him with many important strategic contributions, particularly in regards to: acquisitions of Canyon Offshore and Remington Oil & Gas Corporation; entry into the hub production facilities business; and consolidation acquisitions of the Gulf of Mexico shelf diving business, followed by a partial divestment in Cal Dive.
