Petrofac Limited Board changes (2997Z)
December 14 2017 - 2:01AM
UK Regulatory
TIDMPFC
RNS Number : 2997Z
Petrofac Limited
14 December 2017
Press Release
14 December 2017
BOARD CHANGES
Petrofac Ltd ("Petrofac" or "the Company") today announces that
its Chairman Rijnhard van Tets has notified the Board of his
intention to step down from the Board at the May 2018 Annual
General Meeting after an 11-year tenure. He will be succeeded upon
his departure by current Senior Independent Director René
Médori.
Mr van Tets joined the Board in 2007, serving as a Non-executive
Director prior to being appointed Chairman in 2014. Mr Médori, who
joined as a Non-executive Director in 2012, has recently
relinquished his executive role as Finance Director of Anglo
American plc.
Mr van Tets said: "After a long tenure I have made the decision
to step down at next year's AGM. I would like to thank my fellow
Board members for their support, and the Executive Directors for
their continued commitment to the business during the past 11
years.
"I am delighted that the Board has been able to appoint an
internal candidate of René's calibre. His wide international
experience and understanding of multi-national businesses,
well-established governance knowledge, and understanding of the
regulatory landscape, provides an important level of
continuity."
Mr Médori said: "On behalf of the Board I would like to thank
Rijnhard for his strong leadership and commitment to Petrofac. His
experience through this time has been invaluable. I am delighted to
be taking up the role of Chairman next year and excited about the
prospect of working with the management team to take the business
forward."
The appointment of a new Senior Independent Director will be
announced in due course.
Committee changes
As a result of the above-noted changes, further changes to
Nominations, Remuneration and Audit committees will be advised in
due course.
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.low@petrofac.com
Alison Flynn, Group Head of Communications
alison.flynn@petrofac.com
+44 (0) 207 811 4913
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Andrew Grant
Martin Robinson
NOTES TO EDITORS
Petrofac
Petrofac is a leading international service provider to the oil
and gas production and processing industry, with a diverse client
portfolio including many of the world's leading integrated,
independent and national oil and gas companies. Petrofac is quoted
on the London Stock Exchange (symbol: PFC).
Petrofac designs and builds oil and 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 and gas assets.
With around 13,000 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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