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By Colin Kellaher
Valaris PLC (VAL) on Tuesday said P. Carey Lowe is stepping down as executive vice president and chief operating officer, effective Nov. 30.
The London provider of offshore contract drilling services said it named Gilles Luca senior vice president and chief operating officer, effective Dec. 1.
Mr. Luca, 48 years old, joined Valaris in 1997 and has been senior vice president of operations support since April, the company said.
Valaris said Mr. Luca will receive a base annual salary of $525,000 and an annual bonus with a target of 85% of his base pay.
Mr. Lowe became executive vice president and chief operating officer in connection with the April merger of Ensco PLC and Rowan Cos. to form EnscoRowan, now known as Valaris.
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(END) Dow Jones Newswires
November 12, 2019 11:44 ET (16:44 GMT)
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