Gulf Marine Services names new CFO

  • Business & Finance

Gulf Marine Services has found and named a new Chief Financial Officer after its previous designated CFO eventually decided not to take up the position for family reasons.

A GMS SESV / Image source GMS
A GMS SESV / Image source GMS

GMS, a provider of self-elevating support vessels for the offshore energy industry, on Friday said its new CFO would be Stephen Kersley, who most recently worked as CFO for Tervita, a Canadian oilfield services business.

He will be appointed Chief Financial Officer of GMS, effective 9 June 2019, and will also take a seat at the GMS Board of Directors.

Kersley, with 35 years of industry experience, has previously also worked as CFO of Abu Dhabi National Energy Company PJSC (TAQA), and prior to that, he had spent 24 years with Shell, of which ten years as a Vice President, working in Asia, Europe, and the Middle East.

“He led the successful capital restructuring at Tervita, and at TAQA he raised over $6bn in four bond issuances, while also fundamentally reshaping the company’s portfolio with US$2bn of acquisitions and US$1.5bn of divestments,” GMS said.

Duncan Anderson, Chief Executive Officer of GMS, said: “We are delighted to welcome Mr. Kersley to GMS. Stephen brings a sound knowledge of corporate finance and strong industry experience.”

As previously reported, GMS had in February said that Stuart Jackson would take over the CFO position in “early summer 2019.” However, the company a month ago said that Jackson wouldn’t be joining GMS after all, as he’d told the GMS board he was “no longer able to join GMS for family health reasons.”

Jackson, who was expected to join GMS in July, had led the capital restructuring of several businesses including Bibby Offshore, CEONA, and Acergy – now Subsea 7.

Offshore Energy Today Staff

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