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Petrofac Limited ( PFC)
12-May-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Petrofac Limited announces that Alastair Cochran, Chief Financial Officer, has advised the Board of his intention to leave and take up a new role outside the Group on 1st September 2021.
Afonso Reis e Sousa, currently Group Treasurer & Head of Tax, will succeed Alastair and will be formally appointed as Chief Financial Officer and Executive Director on the same date following an orderly transition period over the coming months. Afonso, who has been with Petrofac for eight years, spent the early part of his career in investment banking, focusing on the energy and infrastructure sectors. He has extensive experience at Petrofac in a variety of senior finance roles and has most recently led the Company's successful refinancing.
Sami Iskander, Group Chief Executive, said: "On behalf of the Company and the Board I would like to thank Alastair for his tremendous contribution and personal commitment over the last five years, together with his support in recent months since my appointment as CEO. Alastair has pioneered our transformation back to a capital-light business and leaves Petrofac strongly positioned for efficient and effective execution as markets recover and we rebuild our order book. I wish him and his family every success in the future.
"I am also delighted to have such an excellent successor and partner in Afonso, who knows the business extremely well, has been a key member of our finance leadership team, and provides continuity at an important time as we rebalance, reshape and rebuild the business. I look forward to working with him in the years ahead."
Alastair said: "The decision to leave was not an easy one. I am very proud of everything we have achieved as a team during my time with the Group, including the strategic and functional transformations that we have delivered. I leave Petrofac in very capable hands and am delighted to be handing over in the coming months to Afonso, whose skills and expertise equip him well to lead Petrofac during the next phase of its evolution. I wish Afonso, Sami and the entire team every success in the future."
In accordance with Listing Rule 9.6.15 it is confirmed that there are no further details to be disclosed pursuant to Listing Rule 9.6.13.
Ends
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Yarr, Head of Investor Relations
jonathan.yarr@petrofac.com
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Martin Robinson
NOTES TO EDITORS
Afonso Reis e Sousa's biography
Afonso joined Petrofac in 2012 as Group Head of Structured Finance and accumulated a portfolio of increasing responsibility including Group Treasurer, Head of Tax and Group Head of Enterprise Risk. He has a background in investment banking, having begun his career with Deutsche Morgan Grenfell, and has extensive experience in corporate and project finance.
Petrofac
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do.
Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 9,400 employees based across 31 offices globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at www.petrofac.com
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