Archer Limited : Change in principal officers and financial update
Hamilton, Bermuda (January 1, 2012) The Board of Directors of Archer Limited (OSE: ARCHER) announces the following changes to the Company's governance structure as of 1 January 2012. After the successful integration of Gray Wireline, Allis-Chalmers and Seawell and the creation of Archer, Mr. Jorgen Rasmussen will transition out of his role as group Chief Executive to pursue other interests. Mr. Saad Bargach has accepted to renew his term and serve as Chairman of the Board and Mr. Fredrik Halvorsen will serve as Vice-Chairman and Chief Executive until a permanent solution has been found.