Icahn Wins Seat On Transocean Board

Shareholders send clear message that immediate fiscal discipline is a necessity

May 17, 2013, 13:56 ET from Carl Icahn

NEW YORK, May 17, 2013 /PRNewswire/ -- Carl Icahn today made the following statement on Transocean Ltd. (NYSE: RIG):

I am very pleased with the tremendous support that our nominee, Samuel Merksamer, obtained from shareholders in winning a seat on the Transocean board of directors. Although we are disappointed that our nominee, Jose Maria Alapont, lost by approximately 1 million votes, we believe that the shareholders have today sent an unequivocal and vocal message to the incumbent directors and management, by voting out the Chairman, that immediate discipline must be brought to all fiscal and capital allocation decisions. We expect that the newly constituted board will take prompt action to deliver that sorely needed change.

I wish to thank all the shareholders who supported us.

SOURCE Carl Icahn