Aker Solutions in organizational and management changes

Aker Solutions, a Norwegian oil services company, has named a new executive management team as a part of its reorganization efforts aimed at “further strengthening operational and financial performance and better meeting customer needs.”

Aker said on Friday that the new organization will have five delivery centers: Customer Management, Front End, Products, Projects, and Services. According to the company, this setup will boost cost-efficiency by ‘at least 30 percent’ by the end of 2017.

Aker added that the new team will be operational from November 1.

Chief Executive Officer Luis Araujo said: “We are taking this step to generate even greater synergies across the group and enhance our ability to create value for customers and shareholders.”

As part of the reorganization, Dean Watson has been named the chief operating officer. Watson joins Aker from Schlumberger, where he held various leadership positions, and will report to Araujo.

The company made other executive management changes internally. Valborg Lundegaard, currently head of Engineering, will lead the customer management center. Svenn Ivar Fure will continue to lead the company’s front-end efforts. Egil Boyum, currently head of the subsea business in Europe and Africa, will lead the products center. Knut Sandvik will lead the projects center, moving from being head of Maintenance, Modifications, and Operations. David Clark, currently regional head for Europe and Africa, will lead the services center.

Svein Stoknes will remain as chief financial officer, and Mark Riding will continue as head of the strategy department.

Araujo said: “The new set-up will facilitate a strategy to grow our services organization and pursue a more international business with a diverse customer base.”

Current Head of Subsea Alan Brunnen and Head of Operational Improvement and Risk Management Tore Sjursen will remain at Aker Solutions through to the end of the year to help with the transition to a new structure.

Araujo added: “I wish to thank both Tore and Alan for their strong dedication and valuable contribution over many years in the development of Aker Solutions. I wish them every success.”

The company said that it will continue to report financial figures for the third quarter, fourth quarter and full year of 2016 based on the existing organizational structure.