Steven L. Newman
Steven L. Newman is an American businessman. He served as the President and Chief Executive of Transocean until February 16, 2015.Biography
Early life
Steven Newman received a Bachelor of Science degree in petroleum engineering from Colorado School of Mines in 1989 and an M.B.A. from the Harvard Business School.Career
He joined Transocean in 1994 in the Corporate Planning Department. He became Chief Operating Officer on October 16, 2006. He was Executive Vice President of Performance for 2007-2008. He became President in May 2008 and Chief Executive Officer on March 1, 2010.
On 15 February, 2015, Transocean announced that he and the board of directors mutually agreed that he would step down effective the following day.
On 25 June, 2015, The Wall Street Journal published an article that pointed out Newman was the worst-performing executive in the 300 companies it examined. His 2014 compensation went up 2% to 14.2 million dollars at a time his firm's market value declined 60%.
