Diamond Offshore Drilling and its debtor affiliates emerged from their chapter 11 process after successfully completing a financial reorganization pursuant to their joint plan of reorganization. 1.The restructuring provided substantial liquidity for the company, resulting in the equitization of approximately $2.1b in senior unsecured note obligations and providing the Company with over $625m of new available capital 2.Company also announced that Marc Edwards has retired as Chairman, President and Chief Executive Officer 3.Company is currently in discussions regarding appointment of an Executive Chairman and CEO Ronald Woll COO, will serve as Interim CEO in addition to his current position 4.In accordance with the joint plan of reorganization, a newly constituted Board of Directors of the Company was appointed 5.NOTE: Diamond Offshore to Wipe $1.8 Billion Debt in Approved Reorg Plan.
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