RTTNews | Dec 10, 2021 10:41AM EST

10:41 Friday, December 10, 2021 (RTTNews.com) - Shares of Valaris Limited (VAL) are gaining over 8% on Friday morning after the offshore contract drilling services provider announced appointment of Anton Dibowitz as President and Chief Executive Officer.

VAL is currently trading at $33.18, up $2.53 or 8.25%, on the NYSE. The stock has traded between $20.25 and $39.14 in the 52-week period.

Dibowitz will take over the role of President and Chief Executive Officer, effective immediately. Dibowitz has been serving as interim President and Chief Executive Officer of Valaris since September 3, 2021. He is also a member of the Company's Board of Directors.

"It has been an honor to lead such a talented team at Valaris these past three months, and I look forward to the opportunity to continue our work together," commented Dibowitz. "I am encouraged by the continued steady increase in activity we have seen across our business, evidenced by the addition of more than $2.1 billion of backlog year to date."

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