Diamond Offshore Hires Kelly Youngblood As SVP And CFO

Diamond Offshore Drilling, Inc. DO disclosed that it hired Kelly Youngblood as Senior Vice President and Chief Financial Officer, effective May 3. According to the company, Youngblood would succeed Gary Krenek as he was set to retire after 33 years of service to the Company and its predecessors.

Diamond Offshore Drilling President and CEO Marc Edwards commented, "We are very pleased to have someone with Kelly's industry knowledge, finance and accounting expertise and existing relationships throughout the investment community assume the role of Chief Financial Officer. Gary has made significant contributions to Diamond Offshore over his long career, which includes 18 years as Chief Financial Officer. As the longest serving CFO in the offshore drilling industry, he will be missed, and we wish him well in his retirement."

The company stated Youngblood held a variety of managerial positions with Halliburton Company joining it in 1988 as a Staff Accountant. He also served in numerous financial management positions for Halliburton and its subsidiaries. That included Senior Director, Finance - Western Hemisphere and Director, External Reporting and Accounting Research.

The stock shed 0.12 percent on Friday.