Seadrill Limited has announced a significant leadership change, appointing Samir Ali as the new President and Chief Executive Officer, effective immediately. This decision was made by the Board of Directors on March 12, 2026, as part of the company's strategic direction. Ali, who previously served as the Executive Vice President and Chief Commercial Officer since August 2022, brings a wealth of experience to the role. Before joining Seadrill, he spent eight years at Diamond Offshore, where he held the position of Vice President of Investor Relations and Corporate Development. His background also includes roles as a debt and equity investment portfolio manager at Bain Capital and as an investment banker at Simmons & Company.

The Board expressed confidence in Ali's leadership capabilities, highlighting his strong industry knowledge and commitment to operational excellence. Julie J. Robertson, Chair of the Board, stated, "The Board is confident that Samir is the right leader to guide Seadrill forward. We look forward to working closely with him as Seadrill continues to build on its strong foundation."

In conjunction with his promotion, Ali's annual base salary has been increased to $750,000. He will also be eligible for an annual bonus for 2026, with a target amount equal to 110% of his base salary, contingent upon meeting company-wide performance goals. Additionally, Ali received a long-term incentive award valued at $3.5 million, which includes performance-vested and time-vested restricted stock units.

The company is also expected to enter into a separation agreement with Simon Johnson, the former CEO, to provide him with the severance benefits outlined in his existing employment agreement. This transition marks a pivotal moment for Seadrill as it seeks to enhance its operational strategies and market position under new leadership.

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