Oceaneering International, Inc. (NYSE: OII) has announced a Chief Financial Officer ("CFO") succession plan, with Alan R. Curtis, the current Senior Vice President & CFO, set to retire effective January 1, 2026. Curtis has been with Oceaneering since 1995, holding various roles and serving as CFO since 2015.
Upon Curtis's retirement, Michael W. Sumruld will succeed him as CFO. Sumruld is expected to join Oceaneering as Senior Vice President of Finance on September 1, 2025. He most recently served as Senior Vice President and CFO for Parker Drilling Company.
In terms of financial performance, Oceaneering has consistently delivered steady shareholder returns and significantly enhanced its portfolio under Curtis's leadership. This has enabled the company to expand its capabilities and provide solutions in challenging environments.
Sumruld's appointment follows a thoughtful succession planning process. Oceaneering's CEO, Rod Larson, expressed his confidence in Sumruld, highlighting their previous collaboration at Baker Hughes, where Sumruld demonstrated strong leadership and a business-oriented approach.
Oceaneering International, Inc. is a global technology company delivering engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. Following these announcements, the company's shares moved 0.9%, and are now trading at a price of $20.26. For more information, read the company's full 8-K submission here.
