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Rowan Cos. chief executive will step down
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HOUSTON - Rowan Cos. said Friday that its chief executive, Daniel F. McNease, will retire at the end of the year.
McNease, 57, spent 34 years with the contract drilling company. He was appointed CEO in 2003.
Rowan said its board is looking for a new executive both in and outside the company.
Rowan shares fell 52 cents, or 2.8 percent, to close at $18.14.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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