Transocean Proxy Statement and 2010 Annual Report

3.3.2 Time of First Election / Remaining Term of Office for each Director
Name Age (1) Position First Election Remaining Term
Steven L. Newman 46 Executive director 2010 2 years
Thomas W. Cason 68 Independent outside director 2007 2 years
Robert B. Sprague 66 Independent outside director 2004 2 years
J. Michael Talbert 64 Independent outside director 1994 2 years
Victor E. Grijalva 72 Independent outside director 1999
Expires at the
2011 AGM (2)
Proposed for
Martin B. McNamara 63 Independent outside director 1994
reelection at 2011
AGM
Robert E. Rose 71 Independent outside director 2007
Expires at the
2011 AGM (2)
Proposed for
Ian C. Strachan 67 Independent outside director 1999
reelection at 2011
AGM
W. Richard Anderson 57 Independent outside director 2007 1 year
Edward R. Muller 59 Independent outside director 2007 1 year
Richard L. George 60 Independent outside director 2007
Resigned effective
February 11, 2011
(1)
Age as of February 15, 2011.
(2)
Messrs. Robert E. Rose and Victor E. Grijalva will not stand for re-election at the 2011 annual
general meeting.
For further information regarding the proposed election of new directors and the reelection of existing
directors refer to page P-16 of this Annual Report under the heading “Agenda Item 9, Election of Three New
Directors—Jagjeet S. Bindra, Steve Lucas and Tan Ek Kia; Reelections.”
3.4 Internal Organizational Structure
The Board is ultimately responsible for the general policies and management of the Company. The Board
establishes the strategic, organizational, accounting and financing policies to be followed by the Company and the
other group companies. The Board has delegated the conduct of the day-to-day business operations to Executive
Management, which is headed by Steven L. Newman, President and CEO. The Board met four times in 2010. For
further information on the allocation of tasks with the Board, the membership, tasks and area of responsibility of the
Board Committees, and the work methods of the Board and its Committees, refer to page P-21 et seq. of this Annual
Report under the caption “Corporate Governance.”
3.5 Definition of Areas of Responsibility
For information regarding the general principles regarding the areas of responsibility between the Board of
Directors and Executive Management, including the responsibility and composition of the committees of the Board
of Directors, refer to (i) page P-21 et seq. of this Annual Report under the caption “Corporate Governance,” and (ii)
page AR-31of this Annual Report under the caption “Executive Officers of the Registrant.”
3.6 Information and Control Instruments Vis-à-vis Executive Management
The Board uses several tools to be kept informed about group operations and exercise control over executive
management:
� The Board receives a quarterly performance and financial report from executive management. The report is
comprised of consolidated financial information and includes: (i) an income statement, balance sheet, and
cash flow statement, including a comparison of each to budgeted and prior year figures; (ii) management
performance comments; and (iii) communication of key issues.
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