Noble Corp. Remains Upbeat After CEO Departure

In an earlier blog in late September, I discussed the unexpected departure of Noble Corporation's NE (NYSE) CEO, Mark A Jackson. Noble so far seems to be handling Jackson's departure rather well. The company's latest earnings beat analysts' expectations.

Noble's net income increased to $318.3 million, or $1.18 per share, from $207.2 million, or 76 cents, last year. Revenue jumped 41 percent to $791.3 million, while contract-drilling costs climbed 27 percent.

The company continues to insist there was nothing extraordinary in Jackson's departure. The current interim CEO and Chairman, William Sears, remains very upbeat on the company's future. Currently, the company has retained an outside executive search firm to assist in the permanent hiring of a CEO.

For more see:

Houston Chronicle
Reuters
MarketWatch