Tidewater CEO, President Platt Retires; Names Rigdon As Interim CEO & President

(RTTNews) - Tidewater Inc. (TDW) said that Jeffrey Platt has elected to retire effective October 15, 2017 from his roles as CEO, President, and a director of Tidewater. The Board of Directors has appointed Larry Rigdon as its interim Chief Executive Officer and President, effective immediately.

The Board has formed a search committee to identify a permanent successor CEO and President.

Rigdon, who was appointed to serve on the Board following the financial restructuring, is a seasoned executive in the industry. Rigdon has prior experience as an executive at Tidewater, retiring as Executive Vice President in 2002 after joining the Company in 1992 with the merger with Zapata Gulf Marine Corporation. Following his retirement from Tidewater in 2002, Mr. Rigdon successfully founded and grew Rigdon Marine Corporation to twenty-eight state of the art offshore service vessels and sold the Company in June 2008. Rigdon currently serves as a director of Professional Rental Tools, LLC.

In light of Mr. Rigdon's interim dual role as CEO and President, Mr. Rigdon has stepped down from the audit committee and the Board has appointed Steven Newman as his replacement.