Paragon Offshore Ltd, said Aug 25 that James (“Jay”) Swent III, Paragon’s current chairman of the board of directors, has been named president and CEO following a comprehensive executive search process.
Swent’s career includes more than a decade of experience in the offshore drilling industry including his most recent role as executive vice president at ENSCO plc. He will continue to serve as a member of the board of directors, however, in keeping with best practices for corporate governance, Paragon will maintain separation between the roles of CEO and chairman of the board. Effective immediately, current board member George Sandison will become chairman. Paragon’s board size will remain at six members.
Swent assumes the role from Dean E. Taylor, who has served as Paragon’s Interim president and CEO since November 2017.
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