Photo: Illustration (Courtesy of DOF Subsea)

DOF Subsea makes management changes

DOF Subsea has appointed Martin Lundberg as acting chief financial officer (CFO) with responsibility for the corporate finance functions in the DOF Subsea Group.

A photo illustration showing a DOF Subsea worker (Courtesy of DOF Subsea)
Illustration (Courtesy of DOF Subsea)

Lundberg joined DOF Subsea in 2010 and has for the past ten years been a key resource in various positions within the corporate finance team in DOF Subsea. Lundberg’s new appointment is effective from January 1, 2021.

He will be replacing the current CFO, Jan Nore, who will dedicate his full capacity to the role as Head of Restructuring.

Nore is heading the internal project team established for the purpose of the ongoing restructuring process, aiming at securing a long-term financial solution for the DOF Subsea and DOF ASA Groups.

As Head of Restructuring, Nore reports to the appointed Steering Committee, headed by the DOF Group Chairman, and will continue his engagement until end May 2021.

“As CFO & Executive Vice President since 2009, Jan has contributed tremendously in developing our financial organisation globally and significantly supported DOF in becoming a world class integrated offshore company.

“He has built a strong global team and I am grateful for his many contributions to our Subsea business. We wish him continued success as Head of Restructuring and a prosperous next chapter in this career once departing from DOF Subsea”, said Mons S. Aase, CEO of DOF Subsea.

To remind, DOF Subsea has recently reported the reduction in third quarter loss, compared to same period a year before.

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According to the financial statement, DOF Subsea marked NOK 133 million loss in the third quarter of 2020, against NOK 1.1 billion in Q3 2019.