Seadrill (SDRL) CEO Alf Thorkildsen says he will step down as the company looks to relocate its...

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL) CEO Alf Thorkildsen says he will step down as the company looks to relocate its management team outside of Norway. SDRL says Norway's cost level and distance from its core markets make travel and logistics "cumbersome” in managing worldwide operations. New CEO Fredrik Halvorsen has served as interim CEO of oilfield services company Archer since January.