Oceaneering International has reorganized its business units into five operating segments and will report financial results for the quarter ending Sept. 30 in accordance with the realignment.
Rod Larson, president and CEO of Oceaneering, said in a statement published Thursday the move is part of the company's cost-reduction efforts and the reorganized business units will take advantage of common attributes to drive increased value for clients and shareholders.
The company's five operating segments are subsea robotics, manufactured products, offshore projects group, integrity management and digital solutions and aerospace and defense technologies.
Martin McDonald, a senior vice president at Oceaneering, leads the subsea robotics segment, which includes remotely operated vehicles, ROV tooling and survey service.
Shaun Roedel, an SVP, oversees the manufactured products segment, which covers automated guided vehicles and theme park entertainment systems.
Benjamin Laura leads the offshore projects group as SVP. The segment includes global data solutions, service and rental business and some ROV tooling and survey services.
Kishore Sundararajan, an SVP, is responsible for the IMDS segment, which covers the company's global data solutions and asset integrity businesses.
Philip Beierl, who also serves as an SVP, oversees the aerospace and defense tech segment, which includes Oceaneering's government business focused on defense subsea tech, marine services and space platforms.