Offshore services player Rowan has tapped Hercules Offshore CFO Stephen Butz to serve as its executive VP and CFO.
Butz will start at his new post on December 1.
He has worked at Houston-based Hercules for nine years in a variety of roles including positions in corporate development and finance.
Prior to joining Hercules Butz worked in commercial and investment banking for 10 years.
He will take over from current Rowan CEO Kevin Bartol who announced in October that he will leave the company to pursue other opportunities.
Hercules promoted its current chief accounting officer Troy Carson to take over from Butz.
Carson joined Hercules in 2007 and has been serving in his current role since 2010.
Houston-based Rowan’s third quarter revenues were up 22 percent over last year to $467.7 million thanks to the commencement of the company’s first ultra deepwater drillship in April and less out-of-service time for its jack-up rigs.