(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., the offshore-rig company he founded more than a decade ago and which is struggling with high debt amid a slow market recovery.The Norwegian-born shipping tycoon, who owns 30% of the company and was instrumental in its financial restructuring last year, said his “strong support” would continue. He will be succeeded by Glen Ole Rodland, who has 25 years in the shipping and oil industries and currently heads the board at Prosafe SE.“While …read more
Source:: Yahoo Finance
