Mermaid relieves CFO of duty, executive VP resigns

  • Business & Finance

International subsea and offshore drilling services company Mermaid Maritime has relieved its chief financial officer (CFO) of his duties. In addition, Mermaid’s executive VP has decided to resign from his position.

Mermaid said on Friday that the company’s CFO, Raza Ullah Khan, was relieved of his duties effective immediately due to internal restructuring of the company in line with streamlining cost efficiency, centralization, and consolidation.

Ullah Khan, who was appointed as the company’s CFO back in August, is required to resign from his directorship of the company’s subsidiaries, Mermaid Subsea Services and Mermaid Subsea Services Saudi Arabia.

The company named Phiboon Buakhunngamcharoen, who has been with the company’s Finance and Accounting Department for the past 11 years, as the interim CFO to provide continuity in the company’s overall financing and accounting until a new CFO is formally appointed.

Furthermore, Mermaid said that Jean-Francois Redon, the company’s Executive Vice President of Asset and Administrative Management, has decided to leave the company to pursue personal and other professional interests.

Offshore Energy Today Staff

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