Taylor To Head Tidewater

Dean E. Taylor, has been promoted to President of Tidewater, replacing William C. O'Malley. who will retain the positions of CEO and Chairman.

Taylor was also appointed to the Tidewater Board of Directors. Taylor was previously executive vice president with operating responsibilities for Latin America, West Africa and the North Sea. It is expected that Taylor will become CEO in March 2002, when O'Malley is scheduled to retire. Taylor is a graduate of Tulane University with an MBA from Boston University, and he joined Tidewater in 1979 following seven years of military service as a Naval officer. "I am humbled and honored to be considered for succession to Bill O'Malley.

I have been blessed with the opportunity to work closely with him, as well as with other great industry leaders, including his predecessor, John Laborde, during my 23 years here. I consider the opportunity to follow them a privilege of a lifetime. Shoes such as theirs are difficult to fill," Taylor said. "All who follow our company know Bill O'Malley's achievements at Tidewater. Besides the financial, which initiated a sea change in industry profitability, and the deepwater construction/acquisition program, which is putting Tidewater squarely on the deepwater map, I also consider his achievement in the area of improving Tidewater's safety performance to have been monumental. All of the Tidewater family is grateful to him for all that he has done, but especially for the safest working environment in the industry."

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