HAMILTON, Bermuda, Dec. 28, 2020 /PRNewswire/ -- Borr Drilling
Limited (the "Company") (NYSE: BORR) and (OSE: BORR) is
pleased to announce the appointment of Mr. Magnus Vaaler as its new Chief Financial
Officer, replacing Mr. Christoph
Bausch with effect from 28 December
2020.
Patrick Schorn, Chief Executive
Officer, commented:
"I am pleased to announce Magnus as the new Chief Financial
Officer of Borr Drilling. Magnus has been with the company since
2018 and has taken increasing responsibility in our finance team in
the past year. We are confident that this succession plan
provides continuity and stability in this period where we are
working with key stakeholders to complete our financial
restructuring and strengthening our liquidity profile. I also want
to thank Christoph for his strong contribution to Borr Drilling
during this critical time and wish him well in pursuing his other
interests."
Magnus Vaaler, CFO designate
said
"I am honoured that the Board has appointed me to succeed
Christoph as Chief Financial Officer. We have a world class
business with high quality people, a young and modern fleet and
strong client relationships. There are short term challenges in the
industry, but we have a strong dedicated team working to ensure
that Borr Drilling overcomes these."
Mr. Vaaler currently serves as VP of Investor Relations and
Treasury in the Company. He brings many years of financial and
offshore industry experience though seven years as Treasurer and VP
Finance in Frontline Ltd. and three years as VP Finance in Offshore
Merchant Partners. Mr. Vaaler holds a Bachelor of Commerce degree
from University College Dublin.
This information is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
Magnus Vaaler
ir@borrdrilling.com
Phone: +47 22 48 30 00
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SOURCE Borr Drilling Limited