Transocean Ltd. has chosen Esa Ikäheimonen to succeed Gregory Cauthen as the company's chief financial officer, the Swiss offshore drilling contractor announced Sunday.

Ikäheimonen will step into his new role on Nov. 15.

He served as senior vice president and CFO of Norway's Seadrill Ltd. from 2010 to 2012 and executive vice president and CFO of Finland's Pöyry PLC from 2009 to 2010. Prior to joining Pöyry, Ikäheimonen spent nearly 20 years at the Anglo-Dutch oil major Royal Dutch Shell PLC, where he held a number of senior positions.

Ikäheimonen holds a master's degree in law, specializing in tax law and tax planning, from the University of Turku in Finland.

"Esa's extensive experience and industry knowledge make him a great fit for this key role at Transocean," Transocean President and CEO Steven Newman said in a statement. "We welcome him to our executive management team and look forward to his contributions. I also express my sincere gratitude to Greg [Cauthen] for his extraordinary efforts and dedication during this challenging period in Transocean's history and for his assistance and support during Esa's transition period. I wish Greg the best in the future."

Cauthen was CFO of Transocean from December 2001 to August 2009, at which point he retired but continued to serve as the company's interim CFO. Eight months after Cauthen's retirement, Transocean's Deepwater Horizon rig exploded, killing 11 workers and contributing to the flow of oil into the Gulf of Mexico. The company still expects to face government indictments and a financial settlement related to the spill (EnergyWire, May 29).