Trico Marine announces new president at DeepOcean

Company News - November 5, 2009

Trico Marine Services has announced that Mads Bardsen has been appointed to serve as President of DeepOcean AS, the company's subsea services division. Mr Bardsen takes over responsibilities from Arne Wathne, who will remain at DeepOcean in a special projects and advisory role.

Mr Bardsen has over 15 years of experience with subsea technology and subsea operations. From August 2008 until November 2009, Mr Bardsen served in a strategic advisory role within the Trico Marine Group whereby he worked directly for the Chief Executive Officer, Joseph Compofelice, and acted as primary liaison between DeepOcean and the rest of the Trico Marine Group with respect to operations and strategic planning.

From May 2002 to July 2008, he served in various roles at DeepOcean ranging from Engineering Manager to Director of Technology. Prior to then, he served as a senior project engineer for Stolt Offshore.

"Over the last 15 months," said Mr Bardsen, "I have benefitted from the breadth of experience and global leadership within the Trico Marine Group to provide me with the necessary framework to broaden the scope of our subsea services into emerging markets around the world. I look forward to fulfilling our collective strategic vision and I am excited about the future prospects for DeepOcean and its personnel within the Trico Marine Group."

Joseph Compofelice, Chairman and Chief Executive Officer of the company, said: "The succession planning within DeepOcean is taking shape as originally contemplated yet with the added benefit of broader experience through the Trico Marine Group. Mads' technical expertise and global experience combined with his energy and passion for subsea services are the right balance for building a strong future for DeepOcean. This transition could not have been implemented without Mr Wathne's tone from the top of creating an environment of acceptance and positive change within DeepOcean and I thank him for his continued contributions to the success of the Trico Marine Group."