Aibel elects OneSubsea president as its new CEO

Oil services company Aibel has appointed Mads Andersen as new Chief Executive Officer (CEO) following the retirement of its current President and CEO, Jan Skogseth. 

Aibel informed on Tuesday that Skogseth will, in accordance with his employment contract, retire following his 62nd birthday and Andersen will take over as the new President and CEO from January 1, 2017. Skogseth will hold an advisory role in the company until spring 2017.

“The Board of Directors would like to take this opportunity to thank Skogseth for his immense efforts. He has done an excellent job for a number of years and leaves the company in a very good position,” says Chairman of the Board of Directors at Aibel, Helge Midttun.

Aibel explained that Skogseth has held the role of President and CEO since 2008 and wishes to retire at the age of 62, as permitted by the employment contract.

“Aibel has been a fantastic company to manage and I am convinced that the company’s strong position will continue to develop, both within existing and new areas,” says Skogseth.

According to Aibel, Mads Andersen, the current president at the Schlumberger-owned OneSubsea, is a qualified civil engineer and business economist and was part of the executive management team at Aker Solutions for several years. Aibel noted that he has extensive experience in the oil and gas industry, both within project execution, subsea and international business.

Aibel is in the midst of a demanding period with major industry challenges but also many opportunities, the company said.

“The company has a strong position within field development, the maintenance and modification market as well as renewables. This position, as well as opportunities within new areas, provide the company with an excellent basis for further development. I am entering my new role with enthusiasm and a great deal of respect and I want to contribute to a development that is in the best interest of employees, customers and owners. I am looking forward to having the opportunity to work with many talented employees,” says Mads Andersen.

Chairman Midttun led the Board’s Employment Committee, which was responsible for the selection process, with support from an international recruitment company.

“We have carried out extensive searches and we have assessed a number of candidates. The candidate we were looking for had to have broad management experience as well as experience of and expertise from the oil and gas industry. This is a prerequisite for being successful in the role,” says Midttun.

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