UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| * | The registrant’s Common Stock began trading on the Pink Open Market on April 28, 2020 under the symbol “DOFSQ.” |
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Appointment of Principal Accounting Officer
Effective on May 5, 2020, Diamond Offshore Drilling, Inc. (the “Company”) promoted Dominic Savarino from Vice President and Chief Tax Officer to Vice President and Chief Accounting & Tax Officer, to serve as the Company’s principal accounting officer after the retirement of Beth G. Gordon, Vice President and Controller, which was also effective on May 5, 2020.
Mr. Savarino, age 50, joined the Company in 2017 as Vice President and Chief Tax Officer. Prior to joining the Company, Mr. Savarino served as the Vice President, Tax, of Baker Hughes, Inc., an oilfield services company, from 2016 to 2017. Prior to joining Baker Hughes, Mr. Savarino held a variety of positions at McDermott International, Inc., an oilfield services company, including as Vice President, Tax, from 2015 to 2016 and as Vice President and General Manager, Americas, from 2014 to 2015. Mr. Savarino, a Certified Public Accountant, received Bachelor of Business Administration and Master of Professional Accounting degrees from the University of Texas.
In connection with Mr. Savarino’s appointment, the Compensation Committee of the Company’s Board of Directors approved an increase in Mr. Savarino’s annual base salary from $375,000 to $400,000. In addition, the Compensation Committee approved an increase in the annual base salary of Scott L. Kornblau, the Company’s Senior Vice President and Chief Financial Officer, from $410,000 to $435,000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: May 8, 2020 |
DIAMOND OFFSHORE DRILLING, INC. | |||||
| By: |
/s/ DAVID L. ROLAND | |||||
| David L. Roland | ||||||
| Senior Vice President, General Counsel and Secretary | ||||||
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