Oceaneering CEO stepping down, president promoted

Oceaneering International President Roderick Larson will advance into the chief executive role in May after current CEO Kevin McEvoy steps down.

McEvoy, 65, will remain on the board of Houston-based Oceaneering. McEvoy took over the CEO job in 2011 at the offshore energy services company. He’s worked at Oceaneering for 38 years. Larson, has worked at Oceaneering for five years, serving as chief operating officer and then as president. He previously worked at Houston’s Baker Hughes for more than 20 years.

The CEO transition will occur at Oceaneering’s annual shareholders meeting on May 5. Larson will join the Oceaneering board at that time.

Oceaneering recently posted an $11 million net loss to close out the fourth quarter of 2016 as the offshore sector continues to suffer from the oil bust. For the whole year, Oceaneering still managed a nearly $25 million profit, but that compares to a $231 million gain in 2015.