Cyprus: Prosafe Strengthens Corporate Management Team

Prosafe is implementing two organisational changes to strengthen the corporate management team.

Sven Børre Larsen has been appointed as Chief Financial Officer, and will join the company on 1 January 2011.

Sven Børre Larsen (born 1976) was most recently CFO of Prosafe Production Pte Ltd, and has prior to that been a financial analyst with First Securities, Danske Markets and Fearnley Fonds. He holds a Master of Science in Business from Bodø Graduate School of Business.

Martin Kolnes, presently Chief Financial Officer, will from 1 January 2011 take the role as Director of Corporate Accounting and Tax.

Martin Kolnes (born 1969) joined Prosafe in 1998 and has held several positions within Finance and Accounting. He graduated as a state authorised accountant from the Norwegian School of Economics and Business Administration in Bergen, Norway.

Prosafe is the world’s leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 218.6 million in 2009. The company operates globally, employs approx. 400 people and is headquartered in Larnaca, Cyprus.

[mappress]

Source: Prosafe , December 20, 2010;