Kreuz Subsea chief executive resigns

Chief executive officer (CEO) of subsea services company Kreuz Subsea has resigned from the company.

Kreuz Subsea said on Wednesday that its board accepted the resignation of its CEO Ashit Jain, who decided to leave the company for personal reasons.

Ashit Jain joined the company as its CEO back in October 2017. He has over 25 years of executive experience having held leadership positions in the oil and gas industry across the globe.

He took on the role following the departure of former CEO Kurush Contractor after nine years of service.

His previous posts include managing director at Harkand Group where he was responsible for operations in North America and Africa.

Before Harkand, Jain was part of the senior management team at Dynamic Industries International responsible for international operations.

He also held several senior executive assignments at Global Industries, including COO officer and SVP for Asia Pacific and the Middle East earlier in his career. Global Industries was acquired by Technip in 2011.

“The board would like to express its appreciation for AJ’s leadership of the company during the last two and the half years, where the company has made significant strides in building an experienced and capable management team and established a sound and rigorous business processes and practices.

“As a consequence, Kreuz became a Shell approved diving contractor and has since expanded its commercial footprint to new markets and new customers,” Kreuz stated.

Knut Eriksen, Kreuz’s independent non-executive director, said: “With a strong and professional management team, the foundations for future success are now well established within the company.”

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