Movers & Shakers

The Board of Directors of FARSTAD SHIPPING ASA announced that Deputy Managing Director TERJE J.K. ANDERSON has taken the position of Managing Director of the company. Mr. Sverre A. Farstad wants to step down from this position after the Annual General Meeting of Farstad Shipping ASA on April 23rd 1999.

It was announced that DOUGLAS E. SWANSON, Chairman of the Board and CEO of Cliffs Drilling, will head a third business unit of the Company, focusing on expanding business opportunities in Venezuela and the international shallow water markets. In this regard, the Cliffs Drilling well engineering and the management services group is expected to play a major role by expanding business opportunities via turnkey and integrated services drilling contracts. Mr. Swanson was elected to the Board of Directors of R&B FALCON CORPORATION, bringing the number of directors to seven.

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