IR news

Changes to the Board composition

Hamilton, Bermuda (September 24, 2018)

Archer Limited (the “Company”) announces that the board of Archer has elected Kjell-Erik Østdahl as Chairman of the Board and James O’Shaughnessy as a new board member in the Company to fill a vacancy on the Board.

Kjell-Erik Østdahl has had a tenure of 21 years at Schlumberger in a number of senior positions within operations, business development, marketing and executive management in China, Norway, UK, France and US. He served as Executive Vice President, Operations, Schlumberger from 2011 to 2013. Prior to this role, he was senior partner at HitecVision from 2014 to 2015.  He is a professional investor in technology start-up companies and real estate. He is also a senior advisor at Blackstone Investment Firm and EY.  He also serves as Chairman on the Boards of Sekal AS and Cannseal AS, and he is a board member of Olympic Subsea ASA.  Mr. Østdahl was appointed to the Board of Seadrill Limited on July 2, 2018.  He holds an MSc in Electrical Engineering from the Norwegian University of Science and Technology (NTNU).

James O’Shaughnessy has been an Executive Vice President, Chief Accounting Officer and Corporate Controller of Axis Capital Holdings Limited since March 26, 2012. Prior to that Mr. O’Shaughnessy has amongst other served as Chief Financial Officer in the Bermuda operations of Flagstone Reinsurance Holdings SA and as Chief Accounting Officer and Senior Vice President of Scottish Re Group Ltd., and Chief Financial Officer of XL Re Ltd. at XL Group plc.  Mr. O’Shaughnessy received a Bachelor of Commerce degree from University College, Cork, Ireland in the year 1981 to 1985 and is both a Fellow of the Institute of Chartered Accountants of Ireland and an Associate Member of the Chartered Insurance Institute of the UK. Mr. O’Shaughnessy earned a Master’s Degree in Accounting from University College Dublin in the year 1985 to 1986.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.