Oceaneering International, Inc. has appointed Michael W. Sumruld as its new Senior Vice President and Chief Financial Officer, effective January 1, 2026. Sumruld, who joined the company in September 2025 as Senior Vice President of Finance, brings a decade of experience in high‑growth, high‑margin businesses, having served as CFO of Parker Drilling from 2017 until its sale to Nabors Industries in 2025 and holding senior finance roles at LyondellBasell and Baker Hughes.
Alan R. Curtis, who has led Oceaneering’s finance organization for more than a decade, will retire effective the same date and will remain in an advisory capacity to ensure a smooth transition. The appointment underscores the company’s intent to accelerate its transformation toward higher‑margin subsea robotics and defense operations, a strategy that has already produced a 9% year‑over‑year revenue increase to $743 million and an adjusted EBITDA of $111 million in Q3 2025, the highest since Q4 2015.
Sumruld’s background in managing finance for a company that was acquired and integrated into a larger organization positions him to oversee Oceaneering’s ongoing M&A activity and cost‑control initiatives. His experience will be critical as the company expands its Aerospace and Defense Technologies (ADTech) and Subsea Robotics (SSR) segments, which together accounted for a significant portion of the recent earnings growth and are expected to drive future profitability.
Rod Larson, President and Chief Executive Officer, welcomed Sumruld and praised Curtis’s contributions to the firm’s financial foundation. Larson noted that Sumruld has already integrated with the leadership team and is actively engaged in operations to ensure a seamless transition and to drive the company’s financial strategy forward. The CFO’s focus will be on sustaining margin expansion, optimizing capital allocation, and supporting the company’s strategic shift toward higher‑margin robotics and defense services.
Analysts have noted the CFO appointment as a positive signal of management’s confidence in the company’s growth trajectory. The appointment is expected to reinforce Oceaneering’s ability to capitalize on rising defense spending and the expanding demand for advanced subsea robotics, while maintaining disciplined cost management in its traditional offshore oil and gas services.
The announcement aligns with Oceaneering’s broader diversification strategy, which includes recent acquisitions such as Global Design Innovation Ltd. and a continued emphasis on digital capabilities. Sumruld’s expertise in finance and M&A will help the company navigate the complex integration of new businesses and support its long‑term strategic objectives.
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