Petrofac Limited Directorate Change (1842N)
October 21 2016 - 6:30AM
UK Regulatory
TIDMPFC
RNS Number : 1842N
Petrofac Limited
21 October 2016
Press Release
21 October 2016
BOARD CHANGES
Petrofac, the international oil and gas service provider,
announces the following changes to its Board of Directors.
Chief Financial Officer
Further to the announcement on 30 August 2016, the Company is
pleased to confirm the appointment of Alastair Cochran as Chief
Financial Officer and Executive Director, succeeding Tim Weller,
with effect from 20 October 2016. The Company hereby confirms that
Mr Weller has now left the Company and stepped down from the
Board.
Non-executive Directors
Petrofac also confirms that Non-executive Director Kathleen
Hogenson will step down from the Board with effect from 31 October
2016 and that Jane Sadowsky will join the Board as a Non-executive
Director on 1 November 2016.
Ms Sadowsky is currently Managing Partner of Gardener Advisory
LLC, a consulting firm focused on providing services to the power,
utility and infrastructure sectors. Ms Sadowsky brings an in-depth
experience of structuring cross-border joint ventures, financing
advice and general strategic work gained during a career of over 20
years in investment banking. She currently sits on the boards of
Yamana Gold Inc and the NY ISO as a non-executive director.
Rijnhard van Tets, Petrofac's Chairman, commented: "I would like
to record the Board's appreciation for Kathleen's contribution to
the Board and wish her well for the future. It also gives me great
pleasure to welcome Jane to our Board, and we very much look
forward to the contribution that her strategic perspective and
expertise in capital structure and financing will make in our
boardroom."
Kathleen Hogenson commented: "I would like to record my thanks
to the Board and executive team. Petrofac is a strong business and
I have no doubt the team will continue to be successful in
delivering on its strategy."
Ms Sadowsky commented: "I am delighted to be joining the Board
of Petrofac and look forward to contributing to the debate in a
company with an entrepreneurial spirit, innovative approach, and
determination to achieve operational and technical excellence."
Committee changes
As a result of the above-noted changes, with effect from 1
November 2016, the Board committees will be comprised as
follows:
Nominations Committee: Rijnhard van Tets (Chairman), Ayman
Asfari, Andrea Abt, Thomas Thune Andersen, Matthias Bichsel, René
Médori, George Pierson and Jane Sadowsky
Audit Committee: René Médori (Chairman), Thomas Thune Andersen,
Matthias Bichsel, George Pierson and Jane Sadowsky
Remuneration Committee: Thomas Thune Andersen (Chairman), Andrea
Abt and Matthias Bichsel.
There are no additional disclosures in respect of paragraph
9.6.13 (1) to (6) of the FCA Listing Rules.
Ends
For further information contact:
Petrofac Limited +44 (0) 207 811 4900
Jonathan Low, Head of Investor Relations
Jonathan Edwards, Investor Relations Manager
Alison Flynn, Group Head of Communications +44 (0) 207 811 4913
Tulchan Communications Group Ltd +44 (0) 207 353 4200
Stephen Malthouse
Martin Robinson
petrofac@tulchangroup.com
Notes to Editors
Petrofac
Petrofac is a leading international service provider to the oil
& gas production and processing industry, with a diverse client
portfolio including many of the world's leading integrated,
independent and national oil & gas companies. Petrofac is
quoted on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil & gas facilities; operates,
maintains and manages facilities and trains personnel; enhances
production; and, where it can leverage its service capability,
develops and co-invests in upstream and infrastructure projects.
Petrofac's range of services meets its clients' needs across the
full life cycle of oil & gas assets.
With around 18,000 employees, Petrofac operates out of seven
strategically located operational centres, in Aberdeen, Sharjah,
Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a
further 24 offices worldwide.
For additional information, please refer to the Petrofac website
at www.petrofac.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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