Steven L. Newman served as the President and CEO of Transocean Ltd., a key player in the offshore drilling industry, from 2010 until his departure in 2015. He joined Transocean in 1994, starting in the Corporate Planning Department, which laid...

Steven L. Newman served as the President and CEO of Transocean Ltd., a key player in the offshore drilling industry, from 2010 until his departure in 2015. He joined Transocean in 1994, starting in the Corporate Planning Department, which laid the groundwork for his extensive career in management. Over the years, Newman held various senior management roles, including President and Chief Operating Officer, where he focused on performance and client service. Notably, in his early years, he oversaw improvements across Transocean's global fleet, demonstrating his commitment to operational excellence. Under his leadership, the company's compensation structure was closely tied to performance metrics, reflecting a philosophy that aimed to reward achieving specific goals related to safety, financial performance, and operational efficiency. However, despite a peak total compensation of over $10 million in 2015, he left the company shortly thereafter amid performance challenges. His journey illustrates the complex relationship between leadership, accountability, and corporate performance in the energy sector.