Midgley resigns as Mermaid COO
Subsea and drilling services player Mermaid said that Mark Midgley has resigned from his position of chief operating officer.
Midgley became COO of Mermaid in January 2018.
In his most recent role, he was responsible for managing and overseeing the subsea services business of the company in South East Asia and the North Sea.
Midgley’s resignation becomes effective 30 October 2020.
Singapore-listed Mermaid also noted that he will leave the company to pursue personal and other professional interests.
In addition, Mermaid has earlier this August announced the appointment of Paul Burger Whiley as its new COO.
He joins from James Fisher Marine Services Middle East, where he served as CEO from 2017.
Whiley’s area of responsibility will be to manage and oversee the company’s subsea services business in the Middle East and Africa and other geographical areas.
Paul Burger Whiley, is one of the co-founders of Mermaid Subsea Services, formerly known as Subtech.
He was head of the Mermaid’s subsea group from August 2012 until August 2016.
His principal focus will be to implement a turnaround of the business to deliver a return to profitability.
Mermaid has booked loss in the second quarter 2020 of $9.2 million, versus loss of $6.6 million same time last year.
Also, revenues were down some 36 per cent, from $25 million in Q2 2019 to $16 million.