Valaris Announces New Executive Leadership Appointments

Source: 5/26/2022, Location: South America

Valaris Limited (VAL) ("Valaris") announced the appointment of three new members of the Valaris Executive Management Committee. The following appointments have been made after a rigorous internal and external search process and strongly position the Company for continued success moving forward:

- Chris Weber will join Valaris as Senior Vice President and Chief Financial Officer. Mr. Weber is expected to start in the third quarter of 2022.
- Matt Lyne will join Valaris as Senior Vice President and Chief Commercial Officer. Mr. Lyne is expected to start in the third quarter of 2022.
- Davor Vukadin, the Company’s Associate General Counsel has been promoted to Senior Vice President and General Counsel.

“I am thrilled to welcome three proven, high-performing leaders to the Valaris Executive Management Committee,” said Anton Dibowitz, President and Chief Executive Officer of Valaris. “With the addition of these executives, I strongly believe that we have the right leadership team in place to continue building on the positive momentum we are seeing in the business. Our focus will remain on delivering safe, reliable and efficient operations for our customers while building upon our important strategic pillars of being value driven, focused and responsible in our decision making in order to maximize shareholder value.”

Darin Gibbins, who is serving as interim CFO, will continue in his role as Vice President – Investor Relations and Treasurer after Mr. Weber joins the Company. Elizabeth Darby, who served as interim General Counsel, is continuing in her role as Chief Compliance Officer. Christophe Raimbault will continue to serve as Vice President and interim Head of Marketing and remain with the Company after Mr. Lyne joins.

“I would also like to acknowledge Darin, Elizabeth and Christophe, who are proven leaders and who ensured the Company continued to perform strongly during their time in interim roles. The Valaris Executive Management Committee and Board are very appreciative of their ongoing contributions,” added Mr. Dibowitz.

Chris Weber previously served as Chief Financial Officer of LUFKIN Industries, the leading global provider of rod lift optimization solutions, products, technologies and services to the oil and gas industry. Mr. Weber has also served as Chief Financial Officer of Abaco Drilling Technologies, Halliburton and Parker Drilling Company, and also held senior finance roles at Valaris predecessor companies, Ensco and Pride International.

Matt Lyne joins Valaris from Seadrill, where he served in a number of senior marketing and commercial roles for more than 12 years, most recently as Executive Vice President, Chief Commercial and Strategy Officer. Mr. Lyne also held a number of senior operational and functional roles with Transocean before joining Seadrill. Mr. Lyne has over 20 years of offshore drilling experience in various international locations.

Davor Vukadin has been with Valaris for eight years, helping to drive legal strategy on a wide range of matters including strategic transactions, mergers and acquisitions, complex negotiations and securities offerings. Before being named to his current position, Mr. Vukadin served as Associate General Counsel and Secretary. Prior to joining Valaris, Mr. Vukadin practiced corporate and securities law with the law firm of Norton Rose Fulbright for thirteen years.

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