Offshore drilling rig owner Borr Drilling has appointed a new chief financial officer (CFO) of the company.
Borr Drilling said on Wednesday that it named Christoph Bausch as its new CFO. He will replace Francis Millet with effect from 1 November 2020.
Millet joined Borr Drilling in January 2020. Before joining, Millet held several senior management functions globally, including VP for commercial and finance and VP for commercial and contracts at Schlumberger where he worked for 30 years.
Patrick Schorn , CEO of Borr Drilling, said: “ I am pleased to announce Christoph as the new CFO of Borr Drilling. Christoph has been the CFO of NYSE and OSE listed oilfield service companies for many years and brings extensive industry and financial experience.
“ His deep knowledge of the contract drilling business combined with his experience in financial restructuring will be of tremendous help to support Borr’s strategic plans in a challenging operating environment.
“ I also want to thank Francis for his dedication and many contributions to Borr’s significant development during this critical time ”.
Christoph Bausch, CFO designate, added: “ I am honoured to have the opportunity to support the strong team at Borr Drilling and I look forward to working with Patrick, the Borr Drilling team, and its stakeholders to unlock the value of Borr’s uniquely positioned asset base in the coming years as the industry recovers ”.
Bausch brings many years of financial and operational management experience to the company. Most recently, he served as EVP and CFO of Weatherford.
Before his tenure at Weatherford, and since May of 2011, he served as the EVP and CFO of Archer Limited, an oilfield services company publicly traded on the Oslo Stock Exchange.
He was also a global finance director of Transocean, after a 20-year international career with Schlumberger, where he held senior financial positions in the U.S., the UAE, France, Mexico, Venezuela, and Germany across several business segments covering operations, engineering, manufacturing, and supply chain.