Bumi Armada CEO calls it quits

  • Business & Finance

Malaysia’s Bumi Armada has announced that its Chief Executive Officer and Executive Director of the company, Hassan Basma, has resigned from his position due to family reasons. 

According to the company, the Board of Directors of Bumi Armada has agreed to Basma’s request and accordingly he will relinquish his positions as CEO and Executive Director of the company, with effect from January 1, 2015.

Basma will also relinquish his directorships in other companies within Bumi Armada Group with effect from such date. However, the company informs that Basma will continue to be engaged as a consultant to the company, where required and appropriate, on specific projects.

The company says that the Board has initiated steps to search for a new CEO, with in-depth relevant experience in the offshore and marine services industry. Pending the appointment of a new CEO, the Board has announced that Chan Chee Beng, a member of the Board since 2003, has been re-designated as Executive Director and Acting CEO, with effect from January 1, 2015. Chan has also been a member of the Executive Committee of Bumi Armada since 2008, acting as its chairman from 2013.

The company has also undertaken a review of its existing projects to ensure long term sustainability.

In its Bursa Malaysia filing the company said that, “the Board takes this opportunity to thank Mr Basma for his tremendous contribution to Bumi Armada, and wishes him the best in his future endeavours”.

Offshore Energy Today reported earlier today that the company has once again postponed the signing of an FPSO contract with Husky-CNOOC for Madura BD field.

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